James A. Mirrlees

James A. Mirrlees, is a Scottish economist, who was rewarded Nobel Prize for Economics in 1996 for his fundamental contributions to the economic theory of incentives under asymmetric information.

Personal, career and Academic profiles [br]

James A. Mirrlees, is a Scottish economist, who was rewarded Nobel Prize for Economics in 1996 for his fundamental contributions to the economic theory of incentives under asymmetric information.

Personal, career and Academic profiles [br]

• James A. Mirrlees was born on July 5, 1936 in Minnigaff, Scotland, United Kingdom.
• 1957: James A. Mirrlees completed his M.A. in Mathematics from at the University of Edinburgh.
• 1963: Mirrlees was awarded PhD from Trinity College, Cambridge.
• 1969-1995: During this period, James A. Mirrless engaged as a teacher at the University of Oxford. In this period of time at Oxford, James published the economic models and equations for which he eventually awarded his Nobel Prize in 1996.
• 1995: Dr. Mirrless went to University of Cambridge.
• During 1960s and 1970s, Mirrless was engaged as an advisor to the British labor Party.

Honors and awards

In 1996 James A. Mirrless was awarded the Nobel Prize in Economic Science for his contribution to the study in the field of information economics.

Theories propounded

People will remember James A. Mirrless for his groundbreaking work on optimal income taxation, which actually is a progressive tax that included incentives for earning. He will also be remembered for his analytic research work on economic incentives in conditions engaging asymmetrical information.

Major Works and publications of James A. Mirrlees [br]

• 1962: “A New Model of Economic Growth”, with N. Kaldor
• 1967: “Optimum Growth When Technology is Changing”
• 1969: “The Dynamic Nonsubstitution Theorem”
• 1969: “The Evaluation of National Income in an Imperfect Economy”
• 1971: “Optimal Taxation and Public Production”, with P.A. Diamond
• 1971: “An Exploration in the Theory of Optimal Income Taxation”
• 1972: “On Producer Taxation”
• 1973(with P.A. Diamond): “Aggregate Production with Consumption Externalities”
• 1974( with I.M.D. Little): Project Appraisal and Planning for Developing Countries
• 1974: “Optimal Accumulation under Uncertainty: the Case of Stationary Returns to Investment”
• 1974: Notes on Welfare Economics, Information and Uncertainty”
• 1975: “Optimal Taxation in a Two-Class Economy”
• 1975(with A.K. Dixit and N.H. Stern):”Optimum Saving with Economies of Scale”
• 1976(with P.A. Diamond): “Private Constant Returns and Public Shadow Prices”
• 1977(with P.A. Diamond, ):”A Model of Social Insurance with Retirement”
• 1982:”The Economic Uses of Utilitarianism”
• 1990: “Taxing Uncertain Incomes”
• 1992(with P.A. Diamond): “Optimal Taxation of Identical Consumers when markets are incomplete”
• 1996: “Information and Incentives: The Economics of Carrots and Sticks”
• 1997: “Information and Incentives: The Economics of Carrots and Sticks”
• 1998: “The Theory of Moral Hazard, Part I”, Review of Economic Studies

People will also remember Lucas for his contributions to international finance, investment theory and economic growth theory. Robert E. Lucas, Jr. is the author of “Models of Business Cycles”.

Books by James A. Mirrlees

• Welfare, Incentives, and Taxation
• Models of Economic Growth: International Economic Association Conference
• Project Appraisal and Planning for Developing Countries
• Economic policy and nonrational behaviour (Working paper / University of California, Berkeley, Department of Economics)

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