Jean Tirole
Encyclopedia
Jean Marcel Tirole is a French
professor of economics
. He works on industrial organization
, game theory
, banking and finance, and economics and psychology. Tirole is director of the Jean-Jacques Laffont Foundation at the Toulouse School of Economics
, and scientific director of the Industrial Economics Institute
(IDEI) in Toulouse
. After receiving his PhD from MIT in 1981, he worked as a researcher at l'École nationale des ponts et chaussées
until 1984. From 1984-1991 he worked as a Professor of Economics at MIT. He was president of the Econometric Society
in 1998 and of the European Economic Association
in 2001. He is still affiliated with MIT, where he holds a visiting position.
in Paris in 1976, and from École nationale des ponts et chaussées
, Paris (1978) and a "Doctorat de 3ème cycle" in decision mathematics from the Paris Dauphine University (1978). In 1981 he received his Ph.D. from the Massachusetts Institute of Technology
.
in 1989 and the London Business School
in 2007, the BBVA Foundation Frontiers of Knowledge Award in the Economics, Finance and Management category in 2008, the Public Utility Research Center Distinguished Service Award (University of Florida
) in 1997, and the Yrjö Jahnsson Award
of the Yrjö Jahnsson Foundation
and the European Economic Association
in 1993. He is a foreign honorary member of the American Academy of Arts and Sciences
(1993) and of the American Economic Association
(1993). He has also been a Sloan Fellow (1985) and a Guggenheim Fellow (1988). In 2007 was awarded the highest award (the Gold Medal or médaille d'or) of the French CNRS. He is among the most influential economists in the world according to IDEAS/RePEc
.
He has given several prestigious invited lectures, including the Hicks lecture (Oxford 1992), the Walras-Pareto lectures (Lausanne 1992), the Schumpeter lecture (European Economic Association
1993), the Pazner lecture (Tel Aviv 1993), the Walras-Bowley lecture
(Econometric Society
1994), the Munich lectures (Munich 1996),the JMCB lecture(1999), the Wicksell lectures(1999), the Baffi lectures (Bank of Italy
, 2000) , the Scribner lectures and the Frank Graham lecture at Princeton (2002), the Marshall lectures in Cambridge
(2003), the Tinbergen lecture in Amsterdam (2003), the David Kinley lectures at University of Illinois
(2005), the inaugural JEEA lecture (2005), the inaugural Telecom Italia
lecture (Milan, 2005), the Snyder lecture (UCSB, 2005) and the Rosenthal lecture (BU 2006).
), The Prudential Regulation of Banks (with Mathias Dewatripont), Competition in Telecommunications (with Jean-Jacques Laffont), Financial Crises, Liquidity, and the International Monetary System , and The Theory of Corporate Finance. His research covers industrial organization, regulation, game theory, banking and finance, psychology and economics, international finance and macroeconomics.
France
The French Republic , The French Republic , The French Republic , (commonly known as France , is a unitary semi-presidential republic in Western Europe with several overseas territories and islands located on other continents and in the Indian, Pacific, and Atlantic oceans. Metropolitan France...
professor of economics
Economics
Economics is the social science that analyzes the production, distribution, and consumption of goods and services. The term economics comes from the Ancient Greek from + , hence "rules of the house"...
. He works on industrial organization
Industrial organization
Industrial organization is the field of economics that builds on the theory of the firm in examining the structure of, and boundaries between, firms and markets....
, game theory
Game theory
Game theory is a mathematical method for analyzing calculated circumstances, such as in games, where a person’s success is based upon the choices of others...
, banking and finance, and economics and psychology. Tirole is director of the Jean-Jacques Laffont Foundation at the Toulouse School of Economics
Toulouse School of Economics
The Toulouse School of Economics is a school of economics within the University of Toulouse. In 2007, the French government and the Academy of Sciences chose TSE as one of 13 "Réseaux Thématiques de Recherche Avancée" across all fields, enabling the creation of a private foundation, the...
, and scientific director of the Industrial Economics Institute
Industrial Economics Institute
The industrial economics institute is a research center in economics located in Toulouse within the University of Toulouse I. It was founded in 1990 by Jean-Jacques Laffont...
(IDEI) in Toulouse
Toulouse
Toulouse is a city in the Haute-Garonne department in southwestern FranceIt lies on the banks of the River Garonne, 590 km away from Paris and half-way between the Atlantic Ocean and the Mediterranean Sea...
. After receiving his PhD from MIT in 1981, he worked as a researcher at l'École nationale des ponts et chaussées
École Nationale des Ponts et Chaussées
Founded in 1747, the École nationale des ponts et chaussées , often referred to as les Ponts, is the world's oldest civil engineering school...
until 1984. From 1984-1991 he worked as a Professor of Economics at MIT. He was president of the Econometric Society
Econometric Society
The Econometric Society is an international society for the advancement of economic theory in its relation with statistics and mathematics. It was founded on December 29, 1930 at the Stalton Hotel in Cleveland, Ohio....
in 1998 and of the European Economic Association
European Economic Association
The European Economic Association is a professional academic body which links European economists. It was founded in the mid-1980s. Its first annual congress was in 1986 in Vienna, Austria...
in 2001. He is still affiliated with MIT, where he holds a visiting position.
Education
Tirole received engineering degrees from the École PolytechniqueÉcole Polytechnique
The École Polytechnique is a state-run institution of higher education and research in Palaiseau, Essonne, France, near Paris. Polytechnique is renowned for its four year undergraduate/graduate Master's program...
in Paris in 1976, and from École nationale des ponts et chaussées
École Nationale des Ponts et Chaussées
Founded in 1747, the École nationale des ponts et chaussées , often referred to as les Ponts, is the world's oldest civil engineering school...
, Paris (1978) and a "Doctorat de 3ème cycle" in decision mathematics from the Paris Dauphine University (1978). In 1981 he received his Ph.D. from the Massachusetts Institute of Technology
Massachusetts Institute of Technology
The Massachusetts Institute of Technology is a private research university located in Cambridge, Massachusetts. MIT has five schools and one college, containing a total of 32 academic departments, with a strong emphasis on scientific and technological education and research.Founded in 1861 in...
.
Awards and certificates
Jean Tirole received Doctorates Honoris Causa from the Free University of BrusselsFree University of Brussels
The Free University of Brussels was a university in Brussels, Belgium. In 1969, it split into the Université Libre de Bruxelles and the Dutch-speaking Vrije Universiteit Brussel....
in 1989 and the London Business School
London Business School
London Business School is an international business school and a constituent college of the federal University of London, located in central London, beside Regent's Park...
in 2007, the BBVA Foundation Frontiers of Knowledge Award in the Economics, Finance and Management category in 2008, the Public Utility Research Center Distinguished Service Award (University of Florida
University of Florida
The University of Florida is an American public land-grant, sea-grant, and space-grant research university located on a campus in Gainesville, Florida. The university traces its historical origins to 1853, and has operated continuously on its present Gainesville campus since September 1906...
) in 1997, and the Yrjö Jahnsson Award
Yrjö Jahnsson Award
The Yrjö Jahnsson Award is a biennial award given by the Finnish Yrjö Jahnsson Foundation and the European Economic Association to European economists under the age of 45 "who have made a contribution in theoretical and applied research that is significant to the study of economics in Europe." ...
of the Yrjö Jahnsson Foundation
Yrjö Jahnsson Foundation
The Yrjö Jahnsson Foundation is a charitable foundation whose aims are to not only promote Finnish research in economics and medicine but also to maintain and support educational and research facilities in Finland. It was established in 1954 by the wife of Yrjö Jahnsson, Mrs. Hilma Jahnsson.It...
and the European Economic Association
European Economic Association
The European Economic Association is a professional academic body which links European economists. It was founded in the mid-1980s. Its first annual congress was in 1986 in Vienna, Austria...
in 1993. He is a foreign honorary member of the American Academy of Arts and Sciences
American Academy of Arts and Sciences
The American Academy of Arts and Sciences is an independent policy research center that conducts multidisciplinary studies of complex and emerging problems. The Academy’s elected members are leaders in the academic disciplines, the arts, business, and public affairs.James Bowdoin, John Adams, and...
(1993) and of the American Economic Association
American Economic Association
The American Economic Association, or AEA, is a learned society in the field of economics, headquartered in Nashville, Tennessee. It publishes one of the most prestigious academic journals in economics: the American Economic Review...
(1993). He has also been a Sloan Fellow (1985) and a Guggenheim Fellow (1988). In 2007 was awarded the highest award (the Gold Medal or médaille d'or) of the French CNRS. He is among the most influential economists in the world according to IDEAS/RePEc
Řepeč
Řepeč is a village and municipality in Tábor District in the South Bohemian Region of the Czech Republic.The municipality covers an area of , and has a population of 267 ....
.
He has given several prestigious invited lectures, including the Hicks lecture (Oxford 1992), the Walras-Pareto lectures (Lausanne 1992), the Schumpeter lecture (European Economic Association
European Economic Association
The European Economic Association is a professional academic body which links European economists. It was founded in the mid-1980s. Its first annual congress was in 1986 in Vienna, Austria...
1993), the Pazner lecture (Tel Aviv 1993), the Walras-Bowley lecture
Walras-Bowley Lecture
The Walras-Bowley Lecture is an annual lecture of the Econometric Society, given by a non-North-American member at the summer North American meeting or, in World Congress years, at the World Congress. The lecture was named in honor of Léon Walras and A. L...
(Econometric Society
Econometric Society
The Econometric Society is an international society for the advancement of economic theory in its relation with statistics and mathematics. It was founded on December 29, 1930 at the Stalton Hotel in Cleveland, Ohio....
1994), the Munich lectures (Munich 1996),the JMCB lecture(1999), the Wicksell lectures(1999), the Baffi lectures (Bank of Italy
Banca d'Italia
Banca d'Italia is the central bank of Italy and part of the European System of Central Banks. It is located in Palazzo Koch, Roma, via Nazionale...
, 2000) , the Scribner lectures and the Frank Graham lecture at Princeton (2002), the Marshall lectures in Cambridge
Cambridge
The city of Cambridge is a university town and the administrative centre of the county of Cambridgeshire, England. It lies in East Anglia about north of London. Cambridge is at the heart of the high-technology centre known as Silicon Fen – a play on Silicon Valley and the fens surrounding the...
(2003), the Tinbergen lecture in Amsterdam (2003), the David Kinley lectures at University of Illinois
University of Illinois at Urbana-Champaign
The University of Illinois at Urbana–Champaign is a large public research-intensive university in the state of Illinois, United States. It is the flagship campus of the University of Illinois system...
(2005), the inaugural JEEA lecture (2005), the inaugural Telecom Italia
Telecom Italia
Telecom Italia is the largest Italian telecommunications company, also active in the media and manufacturing industries. Now a private concern listed on the Borsa Italiana, it was founded in 1994 by the merger of several state-owned telecommunications companies, the most important of which was...
lecture (Milan, 2005), the Snyder lecture (UCSB, 2005) and the Rosenthal lecture (BU 2006).
Publications
Jean Tirole has published about one-hundred eighty professional articles in economics and finance, as well as 8 books including The Theory of Industrial Organization, Game Theory (with Drew Fudenberg), A Theory of Incentives in Procurement and Regulation (with Jean-Jacques LaffontJean-Jacques Laffont
Jean-Jacques Marcel Laffont was a French economist specializing in public economics and information economics. Educated at the University of Toulouse and the Ecole Nationale de la Statistique et de l'Administration Economique in Paris, he was awarded the Ph.D...
), The Prudential Regulation of Banks (with Mathias Dewatripont), Competition in Telecommunications (with Jean-Jacques Laffont), Financial Crises, Liquidity, and the International Monetary System , and The Theory of Corporate Finance. His research covers industrial organization, regulation, game theory, banking and finance, psychology and economics, international finance and macroeconomics.
Books
- Concurrence Imparfaite, Paris: Editions Economica,1985 (in French).
- The Theory of Industrial Organization, MIT Press. (1988) Description and chapter-preview links.
- A Theory of Incentives in Regulation and Procurement (with J.-J. Laffont), MIT Press,1993. Description & chapter- preview links.
- The Prudential Regulation of Banks (with M. Dewatripont), MIT Press,1994. Description.
- The Theory of Corporate Finance, Princeton University Press, 2005. Description. Association of American Publishers 2006 Award for Excellence.
Industrial organization
- "The Fat Cat Effect, the Puppy Dog Ploy and the Lean and Hungry Look," (with D. Fudenberg), American Economic Review, 74: 361-368
- "Capital as a Commitment: Strategic Investment to Deter Mobility," (with D. Fudenberg), Journal of Economic Theory, 31: 227-250.
- "A Theory of Dynamic Oligopoly I: Overview and Quantity Competition with Large Fixed Costs," (with E. Maskin), Econometrica, 56: 549-570.
- "A Theory of Dynamic Oligopoly II: Price Competition," (with E. Maskin), Econometrica, 56: 571-600
- "Bypass and Creamskimming," (with J.-J. Laffont), American Economic Review, 80: 1042-1061.
- "Two-Sided Markets: A Progress Report," (with J.C. Rochet), Rand Journal of Economics, 37(3): 645-667.
- Reliability and Competitive Electricity Markets," (with P. Joskow), Rand Journal of Economics, 38(1): 60-84.
Finance and corporate governance
- "On the Possibility of Speculation under Rational Expectations," Econometrica, 50: 1163-1181.
- "Asset Bubbles and Overlapping Generations," Econometrica, 53(6): 1499—1528
- "Domestic and International Supply of Liquidity," (with B. Holmström), American Economic Review, Papers & Proceedings, 92: 42-45.
- "LAPM: A Liquidity-Based Asset Pricing Model," (with B. Holmström), Journal of Finance, vol. 56(5): 1837-1867.Smith Breeden award (distinguished paper) of the Journal of Finance
- "Modelling Aggregate Liquidity," (with Bengt Holmström), American Economic Review, Papers and Proceedings, 86: 187-191.
- "A Theory of Debt and Equity: Diversity of Securities and Manager-Share- holder Congruence," (with M. Dewatripont), Quarterly Journal of Economics, 109: 1027-1054.
- "Corporate Governance," Econometrica, 69 (1): 1-35.
Psychology and cognition
- "Belief in a Just World and Redistributive Politics," (with R. Bénabou), Quarterly Journal of Economics, 121: 699-746.
- "Incentives and Prosocial Behavior," (with R. Bénabou), American Economic Review, 96(5): 1652-1678.
Contract theory
- "Contract Renegotiation and Coasian Dynamics," (with 0. Hart), Review of Economic Studies, 55: 509-540.
- "The Dynamics of Incentive Contracts," (with J.-J. Laffont), Econometrica, 56: 1153-1175
- "Incomplete Contracts: Where Do We Stand?" Econometrica, 67(4):741–781.
- "Unforeseen Contingencies and Incomplete Contracts," (with E. Maskin), Review of Economic Studies, 66(1): 83-114.
Politics and economics
- "Party Governance and Ideological Bias," (with B. Caillaud), European Economic Review, Papers and Proceedings,43: 779-789
- "Parties as Political Intermediaries," (with B. Caillaud), Quarterly Journal of Economics, 117(4): 1453-89
- "The Politician and the Judge: Accountability in Government," (with E. Maskin), American Economic Review, 94: 1034-1054