Jean
Tirole wins Nobel Prize in economics for the Year 2014
French economist Jean Tirole has won the 2014 Nobel Prize in
economics for his analysis on market power and regulation, the Royal Swedish
Academy of Sciences said today.
Regulators and competition authorities have obtained a whole new set of tools from Mr Tirole's work. Most of all, he has clarified how to understand and regulate industries with a few powerful firms.
The economics prize, officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, was established in 1968. The economist will receive 8 million Swedish crowns in prize money.
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