Jean Tirole\'s Contributions to Economics In 2014, the Memorial Nobel Prize in E
ID: 2739143 • Letter: J
Question
Jean Tirole's Contributions to Economics
In 2014, the Memorial Nobel Prize in Economics went to Jean Tirole. Research Tirole's work and address the following issues in essay form:
What was the winner's contribution to managerial economics?
What current industries and price making-power issues are most relevant to his work?
How is Tirole's work relevant to your current industry/area of professional interest?
Submit your responses in a Word document. Answers should be clear, concise and compelling. Support your answers (external to text)
In addition, you will be assessed on how compelling or persuasive you write. If your essay is fewer than 500 words, you are probably not compelling enough, if it is greater than 750 words, you are not concise enough.
Explanation / Answer
Please find the answer
What was the winner's contribution to managerial economics?
Contribution to managerial economics was coming up with methods of regulating large firms such that they do no behave in a monopolistic manner in his research paper Insights into Market Dominance.
What current industries and price making-power issues are most relevant to his work?
He applied his theories industries from telecommunications to banking . His theories studied issues of excessive profit , cooperation on price setting in market , merger of firm and its supplier .
How is Tirole's work relevant to your current industry/area of professional interest?
In his research Tirole stressed that best competition policy should be according to the specific conditions of the industry . Like in banking sector those banks who are getting government support should be regulated with tougher rules . Stringent rules should be bought in to avoid banks playing with taxpayers money and to avoid anti money laundering If the government should take them out from tough situation or any financial crisis they should be regulated
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