|Generate QR code
Open Access
Subscription Access
Nobel Memorial Prize in Economics-2014: Jean Tirole
https://doi.org/10.32609/0042-8736-2015-1-5-21
Abstract
Jean Tirole’s Nobel Prize-winning research is described within the context of practical issues for economic policy and taking into account the relevance of his results for the real world. The paper considers how Tirole contributed to the resolution of “Chicago school paradoxes” in industrial organization and to explaining antitrust law enforcement in the new economy. We also emphasize specific features of Tirole’s textbook on industrial organization and demonstrate its significance for systematic knowledge of markets organization. The main elements of Tirole’s approach to optimal regulation are also discussed.
About the Authors
S. Avdasheva
National Research University Higher School of Economics (Moscow, Russia)
Russian Federation
Russian Federation
A. Shastitko
Lomonosov Moscow State University (Moscow, Russia); Russian Presidential Academy of National Economy and Public Administration (Moscow, Russia)
Russian Federation
Russian Federation
References
1. Agamirova M., Dzagurova N. (2014). Incentives to Make Specific Cooperative Investment: From the Judicial Decisions to the Theoretical Analysis. Ekonomicheskaya Politika, No. 4., pp. 79—97. (In Russian).
2. Siegfried J. (ed.) (2011). Better Living through Economics. Moscow: Gaidar Institute Publ. (In Russian).
3. Radaev V. (ed.) (2012). Commercial Firms’ Costs to Maintain the Systems of Cash- and Non-cash Transactions: an Analytical Report. Series ‘Analytics by LSES’. Issue 11. Moscow: HSE Publ. (In Russian).
4. Radchenko T., Avdasheva S., Shastitko A. (2014). Better Fewer but Better: Principles of Determining the Monopolistically High Price. Konkurentsia i Pravo, No. 6. P. 19—23.
5. Bain J. S. (1951). Relation of Profit Rate to Industry Concentration: American Manufacturing, 1936-1940. Quarterly Journal of Economics, Vol. 65, No. 3, pp. 293-324.
6. Bain J. S. (1956). Barriers to New Competition. Cambridge, MA: Harvard University Press.
7. Carlton D. W., Perloff J. M. (1994). Modern Industrial Organization. 2nd ed. N. Y.: HarperCollins College Publishers.
8. Dixit A. (1980). The Role of Investment in Entry Deterrence. Economic Journal, Vol. 90, No. 357, pp. 95-106.
9. Economic Sciences Prize Committee (2014). Jean Tirole: Market Power and Regulation. Scientific Background on the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2014, compiled by the Economic Sciences Prize Committee of the Royal Swedish Academy of Sciences: www.nobelprize.org/nobel_prizes/economic-sciences/laureates/2014/advanced-economicsciences2014.pdf.
10. Eisenmann T., Parker G., van Alstyne M. V. (2006). Strategies for Two-sided Markets. Harvard Business Review, Vol. 84, No. 10, pp. 92-101.
11. Freixas X., Guesnerie R., Tirole J. (1985). Planning under Incomplete Information and the Ratchet Effect. Review of Economic Studies, Vol. 52, No. 2, pp. 173-191.
12. Fudenberg D., Tirole J. (1983). Capital as a Commitment: Strategic Investment to Deter Mobility. Journal of Economic Theory, Vol. 31, No. 2, pp. 227-250.
13. Fudenberg D., Tirole J. (1984). The Fat-cat Effect, the Puppy-dog Ploy, and the Lean and Hungry Look. American Economic Review, Vol. 74, No. 2, pp. 361-366.
14. Hay D. A., Morris D. J. (1979). Industrial Economics: Theory and Evidence. Oxford: Oxford University Press.
15. Laffont J.-J., Tirole J. (1986). Using Cost Observation to Regulate Firm. Journal of Political Economy, Vol. 94, No. 3, pp. 614-641.
16. Laffont J.-J., Tirole J. (1988). The Dynamics of Incentive Contracts. Econometrica, Vol. 56, No. 5, pp. 1153-1175.
17. Laffont J.-J., Tirole J. (1990). Adverse Selection and Renegotiation in Procurement. Review of Economic Studies, Vol. 57, No. 4, pp. 597-626.
18. Laffont J.-J., Tirole J. (1993). A Theory of Incentives in Procurement and Regulation. Cambridge, MA: MIT Press.
19. Хэй Д., Моррис Д. (1999). Теория организации промышленности: в 2-х т. CПб.: Экономическая школа
20. Диксит А. (2003). Роль инвестиций в предотвращении входа // Вехи экономической мысли. Т. 5. СПб.: Экономическая школа. C. 53-71
21. Laffont J.-J., Tirole J. (2000). Competition in Telecommunications. Cambridge, MA: MIT Press.
22. Lafontaine F., Slade M. E. (2007). Vertical Integration and Firm Boundaries: The Evidence. Journal of Economic Literature, Vol. 45, No. 3, pp. 629-685.
23. Rey P., Tirole J. (1996). The Logic of Vertical Restraints. American Economic Review, Vol. 76, No. 5, pp. 921-939.
24. Rochet J.-C., Tirole J. (2003). Platform Competition in Two-sided Markets. Journal of the European Economic Association, Vol. 1, No. 4, pp. 990-1029.
25. Rochet J.-C., Tirole J. (2006). Two-sided Markets: A Progress Report. RAND Journal of Economics, Vol. 37, No. 3, pp. 645-667.
26. Scherer F. M., Ross D. (1970). Industrial Market Structure and Economic Performance. Chicago: Rand McNally & Co.
27. Шерер Ф. М., Росс Д. (1997). Структура отраслевых рынков. М.: Инфра-М.
28. Tirole J. (1988). The Theory of Industrial Organization. Cambridge, MA: MIT Press.
29. Тироль Ж. (2000). Рынки и рыночная власть: теория организации промышленности: в 2-х т. СПб.: Экономическая школа.
30. Tirole J. (2006). The Theory of Corporate Finance. Princeton: Princeton University Press.
Review
For citations:
Avdasheva S., Shastitko A. Nobel Memorial Prize in Economics-2014: Jean Tirole. Voprosy Ekonomiki. 2015;(1):5-21. (In Russ.) https://doi.org/10.32609/0042-8736-2015-1-5-21
Views:
1283
Email this article 
