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Tirole was awarded the Nobel Prize for economics in 2014 “for his analysis of market power and regulation.” His research applies the insights of game theory to the functioning of competitive and non-competitive markets. Tirole’s work is highly relevant to debates about financial regulation in the aftermath of the financial crisis, something acknowledged recently by the new European Commissioner for economic and financial affairs, Pierre Moscovici, who said that it “illuminates the paths we should follow to end the crisis.”

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