Nobel Prize for economics won by Jean Tirole

A French academic has won the Nobel Prize for economics for his work on market power and regulation

October 13, 2014

Source: Mme Tirole

Jean Tirole, a professor at Toulouse 1 Capitole University, has secured the SEK 8 million (£690,000) award, known as the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

He is one of the most influential economists of our time, according to the Royal Swedish Academy of Sciences.

The award recognises his research on understanding and regulating industries that have a small number of powerful companies.

“Left unregulated, such markets often produce socially undesirable results – prices higher than those motivated by costs, or unproductive firms that survive by blocking the entry of new and more productive ones,” said the academy in a press statement.

“From the mid-1980s and onwards, Jean Tirole has breathed new life into research on such market failures.”

His research tackled central policy questions about how governments should deal with mergers and cartels, and how it should regulate monopolies, for example. He argued that the best competition policies should be adapted to each specific industry’s conditions.

His articles and books outlined a general framework for designing these policies and applied it to several industries.

Professor Tirole’s prize has previously been predicted by David Pendlebury, a Thomson Reuters citation analyst who suggests potential winners based on their citation count.

holly.else@tesglobal.com

You've reached your article limit

Register to continue

Registration is free and only takes a moment. Once registered you can read a total of 6 articles each month, plus:

  • Sign up for the editor's highlights
  • Receive World University Rankings news first
  • Get job alerts, shortlist jobs and save job searches
  • Participate in reader discussions and post comments
Register

Have your say

Log in or register to post comments

Featured Jobs

Researcher in Fluid Dynamics

Norwegian University Of Science & Technology -ntnu

Analyst

Greenwich School Of Management Ltd

PhD Research Fellow in Medical Physics

Norwegian University Of Science & Technology -ntnu

Postdoctoral position in Atmospheric and Space Physics

Norwegian University Of Science & Technology -ntnu

PhD Fellow in Machine Learning

Norwegian University Of Science & Technology -ntnu
See all jobs

Most Commented

Doctoral study can seem like a 24-7 endeavour, but don't ignore these other opportunities, advise Robert MacIntosh and Kevin O'Gorman

Matthew Brazier illustration (9 February 2017)

How do you defeat Nazis and liars? Focus on the people in earshot, says eminent Holocaust scholar Deborah Lipstadt

Improvement, performance, rankings, success

Phil Baty sets out why the World University Rankings are here to stay – and why that's a good thing

Warwick vice-chancellor Stuart Croft on why his university reluctantly joined the ‘flawed’ teaching excellence framework

people dressed in game of thrones costume

Old Germanic languages are back in vogue, but what value are they to a modern-day graduate? Alice Durrans writes