October 13: French professor economist Jean Tirole has been awarded 2014 Nobel Prize in Economics.
Jean is named this year’s Nobel Prize winner in Economics for his ‘analysis of market power and regulation’.
Born on August 9, 1953, the French professor works on industrial organization, game theory, banking and finance.
The professor at Toulouse School of Economics has offered insight into “training powerful firms,’ the Royal Swedish Academy of Sciences said in announcing the award on Monday.
This was the first Nobel Economics Prize sans an American winner since 1999.
The Royal Swedish Academy of Sciences named the French professor for defining ‘how to understand and regular industries with a few power firms.’
The Nobel laureate has said he was ‘very honored’ and ‘moved’ after winning the 2014 Nobel Prize in Economics. Tirole’s book ‘The Theory of Corporate Finance’ is a widely read book in the field of economic across the world.
Awarded since 1969, the Nobel Prize in Economics carries a purse of 8 million kronor. The Nobel prizes, except that of Peace Prize, would be presented in Stockholm on December 10 on the anniversary of Alfred Nobel’s death.