Jean Tirole, Nobel Prize for Economics [fr]
On 13 october 2014, Jean Tirole became the third French national to receive the Nobel Prize for Economics, "for his analysis of market power and regulation", after Gérard Debreu (1983) and Maurice Allais (1988).
As a theorician of public regulation in a market economy, Jean Tirole published various reference books, which are studied in universities all over the world. His analysis of game theory found concrete applications in fields such as energy, telecommunications, banks and transports.
He describes himself as "an anti-liberal supporter of a well-regulated market economy”, showing interest in the consequences of inequality, in continuing unemployment and in the frequency of financial crises.
His work has won him numerous prizes and distinctions, among them the CNRS Gold Medal and the Erwin Plein Nemmers Prize for Economics.
Tirole’s achievement also reflects well on the excellence of the French university system. He follows in the footsteps of Franco-Brazilian Arthur Avila who won the Fields medal (the equivalent of the Nobel Prize for mathematics, awarded every 4 years) French economist Thomas Piketty, author of "Capital in the 21st century".
A graduate of Ecole Polytechnique and Ecole des Ponts et Chaussées, Paris engineering schools, Tirole completed a PhD at the Massachusetts Institute of Technology (MIT). After having taught in some of the most prestigious American universities, he partnered with Jean-Jacques Laffont, another famous French economist, to establish the Toulouse School of Economics.
The Toulouse School of Economics directly benefits from this award. The school, which is included in the Shanghai ranking, is oriented towards the world : it gathers more than 150 researchers globally renowned in their specialty fields and a third of its 2000 students are from abroad. Moreover, master’s lectures and the majority of publications are in English. Since 2010, the school combines all the economic teaching of the university Toulouse 1 Capitole. The school works closely with the business world and companies to train tomorrow’s economists.
"Jean Tirole is one of the most influential economists of our time. He 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." (Nobel prize jury)