French economist Jean Tirole won the 2014 Nobel Prize for Economics

French economist Jean Tirole on 13 October 2014 won the 2014 Nobel Prize for Economics. Jean Tirole was awarded for his analysis of market power and regulation.

The award will be presented to him on 10 December 2014 which marks the death anniversary of prize founder Alfred Nobel.

The Nobel Prize in Economics is officially known as Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. It was established in 1968 and was not part of the original group of five awards established by the will of the Swedish inventor Alfred Nobel in 1895.

Jean Tirole
•    Jean Tirole is a French professor of economics. He works on industrial organization, game theory, banking and finance, and economics and psychology.
•    Tirole is chairman of the board of the Jean-Jacques Laffont Foundation at the Toulouse School of Economics.
•    As a scientific director of Industrial Economics Institute (IDEI) in Toulouse, Tirole developed his ideas about the impact of regulation on industrial organizations using game theory.
•    He is a founding member of the Institute for Advanced Study in Toulouse (IAST).
•    He holds engineering degrees from Ecole Polytechnique in Paris and from Ecole Nationale des Ponts et Chaussées as well as a Ph.D. from the Massachusetts Institute of Technology.
•    From the mid-1980s onwards, Jean Tirole has breathed new life into research on market failures. He has clarified how to understand and regulate industries with a few powerful firms.
•    Jean Tirole has published about two hundred professional articles in economics and finance as well as 10 books including The Theory of Industrial Organization, Game Theory.