The Sveriges Riksbank has awarded the prize in economic sciences in memory of Alfred Nobel to the French economics professor Jean Tirole.
The 61 years old Tirole wins the Nobel Prize for his work on market power and regulation, and his work taming powerful firms.
He is the 75th economist who gets the prize and the third French winner. According to the committee Jean Tirole is one of the most influential economists of our time. Although he has done research in many different areas, he receives his prize mainly because of his views on regulation in markets with only one or a few large companies.