Jean Tirole wins Nobel Prize for economics 2014
The committee awarding the 8m kronor (£750,000) prize said the University of Toulouse professor was “one of the most influential economists of our time”. According to the judges, “Tirole 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.”
Jean Tirole, 61, became the third Frenchman to receive the Nobel Prize in Economics, after Gérard Debreu in 1983 and Maurice Allais in 1988.
Last year, the prize went to three economists, Eugene Fama, Lars Hansen and Robert Shiller for their work on predictions in financial markets.
Mr. Tirole received his Ph.D. in economics from the Massachusetts Institute of Technology in 1981, and he was professor of economics at MIT until he moved to Toulouse in 1991. He had received degrees in engineering from École Polytechnique and École Nationale des Ponts et Chausées in Paris, and in mathematics from Université Paris-Dauphine. Mr. Tirole serves as chairman of the board at the Jean-Jacques Laffont Foundation at the Toulouse School of Economics.
The President of the Republic, François Holande, extended his warmest congratulations to Professor Jean Tirole whom he described as a source of pride for France. This Nobel Prize, the President said, highlights the quality of research in our country.