---

When one party in an economic transaction has more information than the other party, it can lead to bad outcomes, including a breakdown of the entire financial system. Laureate Professor Mirrlees developed the theory that incorporating targeted incentives into these transactions can rebalance the ledger, leading to fairer outcomes and a more robust financial system. During the latter part of his career, Laureate Professor Mirrlees spent several months each year at the University of Melbourne.

Read more about Laureate Professor Mirrlees