Professor Jean Tirole wins Nobel Prize in Economic Sciences

London Business School honorary degree recipient is 75th winner


Professor Jean Tirole who holds an honorary degree from London Business School, has won the Nobel Prize in Economic Sciences for his work on regulation.

Tirole who is a professor of the Toulouse School of Economics and was awarded an honorary degree from London Business School in 2007, has spoken out saying that banks that benefit from government support should face tough regulation.

The Prize in Economic Sciences is awarded by the Royal Swedish Academy of Sciences in Stockholm, Sweden.

The Royal Swedish Academy of Sciences commented that Professor Tirole’s research could be invaluable for regulators, as Brussels tries to control the banking sector and web giants like Google more effectively.

From London Business School, Hélène Rey, Professor of Economics, paid tribute to Tirole, saying: "Jean Tirole is an “homme de la Renaissance” in economics. His work has touched upon many important issues, from industrial organisation, to bounded rationality and financial stability. His Nobel Prize was given for his work in industrial organisation and regulation and it is so well deserved."

After training as an engineer in France, Tirole went on to get a doctorate in mathematics from the University Paris-Dauphine in 1978 and a second doctorate in economics from MIT in 1981. He holds honorary doctorate degrees at London Business School and the University of Rome Tor Vergata.

As the 75th winner of the Nobel Prize for Economic Sciences, Professor Tirole is the first French winner since 1988. He is also the first to receive the Prize for work on regulation since 1982.