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Essay heading: Background Of Research
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Biographies |
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| Date added: |
February 16, 1999 |
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2 / 325 |
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And that step, towards a more general conception of relationships between principal and agent in economic contracts, came after he had essentially left Cambridge. In the intervening sabbatical term at MIT, between Cambridge and Oxford, work on nonlinear incentive relationships began. That year, or the next, the first version of the optimum income tax paper went round, but mathematical justifications took another year and too many pages...
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That year, or the next, the first version of the optimum income tax paper went round, but mathematical justifications took another year and too many pages. In the end much of the rigorous justification was published only many years later.
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