The Royal Swedish Academy of Sciences has decided to award The
Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2014
to
Jean Tirole
Toulouse 1 Capitole University, France
“for his analysis of market
power and regulation”.
--> Tirole is the third French Laureate
awarded the prize in Economic Sciences.
--> Tirole who has used game theory in
an attempt to find ways to control the dominance of major companies said he was
incredibly surprised when he got the news.
--> 61-year-old Tirole who was awarded
the economics prize — the first without an American winner or joint winner
since 1999 wins eight million kroner (£700,000) prize.
--> The Academy said, "Tirole is
one of the most influential economists of our time. He has made important
theoretical research contributions in a number of areas, but most of all he has
clarified how to understand and regulate industries with a few powerful
firms."
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