Principal-agent models are studied, in which outcomes conditional on the agent's action are uncertain, and the agent's behaviour therefore unobservable. For a model with bounded agent's utility, conditions are given under which the first-best equilibrium can be approximated arbitrarily closely by contracts relating payment to observable outcomes. For general models, it is shown that the solution may not always be obtained by using the agent's first-order conditions as constraint. General conditions of Lagrangean type are given for problems in which contracts are finite-dimensional.

Journal Article On Producer Taxation Get access J. A. Mirrlees J. A. Mirrlees Nuffield College, Oxford Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 39, Issue 1, January 1972, Pages 105–111, https://doi.org/10.2307/2296447 Published: 01 January 1972

Journal Article An Exploration in the Theory of Optimum Income Taxation Get access J. A. Mirrlees J. A. Mirrlees Nuffield College, Oxford Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 38, Issue 2, April 1971, Pages 175–208, https://doi.org/10.2307/2296779 Published: 01 April 1971

Journal Article The Dynamic Nonsubstitution Theorem Get access J. A. Mirrlees J. A. Mirrlees Nuffield College, Oxford Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 36, Issue 1, January 1969, Pages 67–76, https://doi.org/10.2307/2296343 Published: 01 January 1969 Article history Received: 07 February 1968 Revision received: 31 July 1968 Published: 01 January 1969

Journal Article Optimum Growth when Technology is Changing Get access J. A. Mirrlees J. A. Mirrlees Trinity College, Cambridge Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 34, Issue 1, January 1967, Pages 95–124, https://doi.org/10.2307/2296573 Published: 01 January 1967

Journal Article Private Constant Returns and Public Shadow Prices Get access P. Diamond, P. Diamond MIT and Nuffield College, Oxford Search for other works by this author on: Oxford Academic Google Scholar J. Mirrlees J. Mirrlees MIT and Nuffield College, Oxford Search for other works by this author on: Oxford Academic Google Scholar The Review of Economic Studies, Volume 43, Issue 1, February 1976, Pages 41–47, https://doi.org/10.2307/2296598 Published: 01 February 1976 Article history Received: 01 March 1975 Accepted: 01 May 1975 Published: 01 February 1976