Nobel Prize in Economics was Frenchman Tirol – BBC Russian

Nobel Prize in Economics was Frenchman Tirol – BBC Russian

• October 13, 2014

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Jean Tyrol called one of the most influential economists of our time

French economist Jean Tirole of the University of Toulouse won the Nobel Prize for Economics in 2014 for his work on the analysis of market regulation.

The Royal Swedish Academy of Sciences named Jean Tyrol one of the most influential economists of our time.

In a statement, the Nobel Committee said that the work of Tyrol significantly improved regulation of industries, which are dominated by a few large companies.

“If such markets will not be regulated, it would lead to socially undesirable results – unjustified rise in prices for the products of large companies or maintain the market unprofitable companies that survive by blocking the entry of competitors’ products. Jean Tirole has created a general framework for the development of control measures for different sectors of the economy – from banking to telecommunications. Relying on its development, the government can encourage large companies to help them become more efficient, and at the same time to prevent the harm that they could cause competitors or consumers, “- said the Nobel committee.

Before Research Tyrol government and regulators often use simple rules, such as the installation of the ceiling price for the production monopoly companies and ban cooperation of competitors.

Models of reputation and quality

Jean Tirole is also known for his work in the field of macroeconomic analysis – he created a mathematical model of concepts such as reputation, quality and fair competition.

Tyrol ’61 – is about six years younger than the average age of Nobel laureates.

“I’m really grateful,” – said the new winner of the Nobel Prize in Economics.

French economist will receive from the Nobel Committee 8 million Swedish kronor ($ 1.1 million more ).

Nobel Prize in Economics has been awarded since 1968. She announced the latest in a series of Nobel Prizes. Among the winners of this year – 17-year-old Pakistani schoolgirl Malala Yusufzai, received the Nobel Peace Prize , and another French writer Patrick Modiano, won the Nobel Prize for Literature .

The awards will be presented to the winners of December 10, the anniversary of the death of the founder Alfred Nobel Prize in 1896, at a ceremony in Stockholm.