The Grunberg Lecture Series | The Eleventh Lecture
April 27, 1998
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| Professor James A. Mirrlees Department of Economics and Politics University of Cambridge Nobel Prize in Economics, 1996 "How Fast Should the Economy Grow?" Professor Mirrlees shared the Nobel Prize in 1996 with Dr. William Vickery for their fundamental contributions to economic theory of incentives under asymmetric information. Mirrlees' research found a more thorough solution to the problems associated with optimal incomes taxes. He soon realized that his method could also be applied to many other similar problems. It has become a principal constituent of the modern analysis of complex information and incentive problems. Mirrlees' approach has become particularly valuable in situations where it is impossible to observe another agent's actions, so-called moral hazard |
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