In this paper we use the approach developed by Mirrlees-Zhou (2006) to analyze repeated principal-agent models. It is shown that the major results of the static models can be generalized to the dynamic settings. In addition, we address and reexamine new issues arising from the dynamic dimension....

Recommended readings (Machine generated): J.A. Mirrlees (1971), 'An Exploration in the Theory of Optimum Income Taxation', Review of Economic Studies, 38 (2), April, 175-208 -- Peter A. Diamond and James A. Mirrlees (1971a), 'Optimal Taxation and Public Production I: Production Efficiency',...

We reexamine the classical principal-agent problems and place them in a new perspective. Our motivation comes from two observations in the real world that fail to be captured by the classical principal-agent models: the agent's action space is rich and optimal incentive contracts tend to be...

This presentation is about poverty and redistribution in emerging economics. It was prepared for the Asian Development Bank’s Distinguished Speakers Program held on 25 October 2011 at the ADB Headquarters. Various types of poverty alleviation programs are discussed, and the central role of...