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CLARKE EDWARD HEDRICK CLARKE Died suddenly on October 10, 2013 in Chambersburg Pennsylvania. He was born in Richmond Virginia on December 23, 1939. Graduating from Princeton University in 1962, he went on to the University of Chicago where he was Assistant Dean of students in the Graduate School of Business working under George P. Shultz. Ed received his M.B.A. in 1965 from the University of Chicago however was not awarded his Ph.D at this time. It was argued that the demand revelation procedure which he presented as his doctoral thesis could not be empirically proven. Nobel Laureate Paul Samuelson had previously declared this problem to be unsolvable. For decades, economists assumed it was impossible. Ten years later the University of Chicago presented Ed with his Ph.D and it was agreed that he had indeed successfully invented a procedure for truthfully revealing individual preferences. This was a major breakthrough with ramifications throughout the discipline of economics, from offering a solution to the free rider problem to paving the way for the field of mechanism design. Today this mechanism is used in auctions, internet advertising and has many other applications. It is thought to be one of the most important economic inventions of our time. After leaving the University sans Ph.D. Ed went to work as Economic Advisor to the Bureau of the Budget in Illinois. He was there from 1970 to 1972. In early 1973, he was appointed to the White House staff as special assistant to George P. Schultz the then Secretary of the Treasury and also served on President Nixon's Council of Economic Advisors. Ed worked for the federal government as a senior economist for more than 35 years in the Office of Management and Budget. He was heavily involved in airline and trucking deregulation. In 1977 he took a year's leave from O.M.B. to go to the Woodrow Wilson International Center for Scholars where he continued work on the demand revealing mechanism. From this work came his book Demand Revelation and the Provision of Public Goods. This mechanism and Ed's work was noted in the 1996 Nobel Prize for Economics awarded to William Vickrey who had first worked on the theorem in 1961 unbenounced to Clarke. Ed's work furthered the work that Vickrey had begun. For more explanation of the V.C.G. Mechanism, as it is known, please visit his website. www.clarke.pair.com From 1983 to 1988, Ed worked in the economic policy division of the U.S. Agency for International Development which took him to Haiti and Morocco as well as Egypt and Lyberia. He is survived by his wife Phoebe and two daughters, Ashley Clarke and Lindsey Clarke Moore wife of Christopher Moore as well as two grand Children, Chloe and Avery. A memorial service will take place at the Interfaith Chapel of Leisure World, 3680 South Leisure World Blvd. Silver Spring, Md. 20906 at 12 noon, November 1, immediately followed by a reception in the ballroom of Club House I. In lieu of flowers please donate to the
National Capital Area, 3701 Pender Drive, suite 400, Fairfax Va. 22030Md. 20906 at 12 noon, November 1, immediately followed by a reception in the ballroom of Club House I. In lieu of flowers please donate to the
National Capital Area, 3701 Pender Drive, suite 400, Fairfax Va. 22030
Published in The Washington Post on Oct. 22, 2013