French economist Jean Tirole has won the 2014 Nobel prize for economics.
Tirole, a professor of economics at Toulouse University, won for his “analysis of market power and regulation.”
The annual economics prize is awarded by the Royal Swedish Academy of Sciences, and not by the Nobel Institute. It is formally called the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.
“Jean Tirole is one of the most influential economists of our time,” the Royal Swedish Academy of Sciences said in a statement. “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.”
On Friday, Pakistani school girl Malala Yousafzai and India’s Kailash Satyarthi both won the Nobel Peace Prize for their work defending education rights for children.