Jean Tirole wins 2014 Nobel Prize in Economic Science

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Oct 13: French professor Jean Tirole was awarded the 2014 Nobel prize in Economics for his analysis of market power and regulation. He received the award for his contributions on how to regulate large companies.

This year's prize is about "taming powerful firms", a representative for the Nobel committee said.

Tirole began his research in the field of regulation and oligopoly in the 1980s, and has made advances in understanding the problems that regulators often face.

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