Frenchman Jean Tirole wins Nobel prize for economics
STOCKHOLM - Frenchman Jean Tirole won the Nobel prize for economics Monday for finding ways to encourage better products and competitive prices in industries dominated by a few companies.
Tirole's work is credited with helping shape the deregulation of industries in developed economies in the 1980s and 1990s. But he has also called for stronger oversight of banks in the wake of the global financial crisis.
"I was incredibly surprised at the honor, and it took me half an hour to recoup" from the Nobel committee's call, Tirole, 61, said in an interview with the website Nobelprize.org
