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James A. Mirrlees

Definition

Sir James Alexander Mirrlees is a Scottish economist and winner of the 1996 Nobel Memorial Prize in Economic Sciences. He was knighted in 1998.

What is 'James A. Mirrlees'

An economist who won the Nobel Memorial Prize in Economics in 1996, along with William Vickrey, for his work on information asymmetry as it relates to taxation and moral hazard problems. Mirrlees believes that the tax system should be used to improve equality, and determined that the optimal marginal tax rate should be only about 20%. Furthermore, he determined that this optimal rate could efficiently be applied to everyone, not just the rich, providing justification for a flat tax rate.

Explaining 'James A. Mirrlees'

Mirrlees' primary research interests include optimal income taxation, imperfect rationality and principal/agent situations with multidimensional choice variables. He also helped to develop the Diamond-Mirrlees efficiency theorem along with Peter A. Diamond.


Mirrlees was born in Scotland in 1936. He has worked as an emeritus professor of political economy at the University of Cambridge and as a fellow of Trinity College. He has also taught at Oxford.


Further Reading


Information and incentives: The economics of carrots and sticks
academic.oup.com [PDF]
The goal of the Mirrlees Review has been to identify what makes a good tax system for an open developed economy in the 21st century and to suggest how the UK tax system could be reformed to move in that direction. As an integral part of the Review, this volume brings …

Project appraisal and planning twenty years onProject appraisal and planning twenty years on
academic.oup.com [PDF]
The goal of the Mirrlees Review has been to identify what makes a good tax system for an open developed economy in the 21st century and to suggest how the UK tax system could be reformed to move in that direction. As an integral part of the Review, this volume brings …

10 Global Public Economics10 Global Public Economics
books.google.com [PDF]
The goal of the Mirrlees Review has been to identify what makes a good tax system for an open developed economy in the 21st century and to suggest how the UK tax system could be reformed to move in that direction. As an integral part of the Review, this volume brings …

Asymmetric information and public economics: The Mirrlees-Vickrey Nobel prizeAsymmetric information and public economics: The Mirrlees-Vickrey Nobel prize
www.aeaweb.org [PDF]
The goal of the Mirrlees Review has been to identify what makes a good tax system for an open developed economy in the 21st century and to suggest how the UK tax system could be reformed to move in that direction. As an integral part of the Review, this volume brings …


Q&A About James A. Mirrlees


Why did he receive it then?

Because that year, he had made significant contributions to economic theory on incentives under asymmetric information.

Where has Mirrlees worked as an emeritus professor of political economy at University of Cambridge and as a fellow of Trinity College ?

At Cambridge

What does Mirrlees believe about taxes?

He believes that the tax system should be used to improve equality.

What is James A. Mirrlees?

An economist who won the Nobel Memorial Prize in Economics in 1996, along with William Vickrey, for his work on information asymmetry as it relates to taxation and moral hazard problems.

Who was James Alexander Mirrlees?

James Alexander Mirrlees was an Scottish economist and a professor of political economy at the Varsity o Cambridge.

When was he born ?

1936

Who did he help develop a theorem with?

Peter A Diamond

When did he receive his Nobel Prize in Economics?

In 1996, he received his prize.

Where has he taught at Oxford ?

Oxford

How does he determine optimal marginal tax rates?

He determined that the optimal rate should be only about 2. Furthermore, he determined that this optimal rate could efficiently be applied to everyone, not just the rich, providing justification for a flat tax rate.

Where did he receive his Nobel Prize in Economics?

He received his Nobel Prize in Economics from the Royal Swedish Academy of Sciences for their contributions to economic theory on incentives under asymmetric information.

What are some of his research interests?

His primary research interests include optimal income taxation, imperfect rationality and principal-agent situations with multidimensional choice variables.

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