How 2014 Nobel Laureate in Economics Jean Tirole contributed to the development of economics

The theory of product organization was promoted.

The theory of industrial organization is one of the most active and fruitful fields of economics in recent years. The theory of industrial organization takes the market and enterprises as the research object, and studies the behavior of enterprises from the perspective of the market or the market structure from the perspective of enterprises.

As a complete and systematic theoretical system, the emergence of the theory of industrial organization is inseparable from the failure of the neoclassical microeconomic theory to explain the problem of monopoly or imperfect competition, or from a practical point of view, industrial organization appeared only after the rapid emergence of large manufacturing companies in this century.

After the 30s of the 20th century, the orthodox theory of industrial organization based on Harvard University was basically formed, and the theoretical circles called the Harvard School. The Harvard school believes that there is a causal relationship (SCP paradigm) between structure, behavior, and performance, that is, the market structure determines the behavior of the firm, and the behavior of the firm determines the economic performance of the market operation. Therefore, in order to achieve ideal market performance, the most important thing is to adjust the irrational market structure through public policy.

The theory of industrial organization has attracted the attention and interest of more and more world-class theoretical economists. They are constantly joining the ranks of research. Around the 80s of the last century, economists represented by Tirol introduced the basic methods and analytical frameworks of game theory and information economics into the research field of industrial organization theory, which had a revolutionary impact on industrial organization theory.

1. The traditional research paradigm of industrial economics will be changed, and the principles and methods of game theory and information economics will be applied to the theoretical problems of industrial organization.

2. Using the theory of information asymmetry, the new regulatory economics is analyzed, and it is applied to the analysis of the regulation problem of the monopoly industry, and the incentive effect of various regulatory policies is studied.

3. There are new ideas or models in the problem of conspiracy, incomplete contract, etc.

French economist Jean Tirole analyzes what literature can be referred to for the financing ability of enterprises.

Hello dear, according to the situation you described, the French economist Jean Tirole has conducted research on the financing capacity of enterprises, and some of the literature is available for reference: Tirole, J (2006).

The Theory of Corporate FinancePrinceton University Press. bolton, p.

scharfstein, d. (1990).A predatory theory based on the problem of financial contracts.

American Economic Review, 80(1), o, moore, j. (1995).

Debt and Priority: An Analysis of the Role of Mandatory Claims in Binding Management. Auction group, American Economic Review, 85(3), , J

1988).The theory of industrial organization. Massachusetts Institute of Technology Press.

Professor Jean Tirole, who inherited the tradition of French scholars who valued the humanities, coupled with a strong mathematical background, soon showed an outstanding talent for the study of economics. In 1982 and 1985, he published two classics in the most authoritative Econometrica (econometric journal): "The Possibility of Speculation under Rational Expectations" and "Asset Bubbles and the Generational Overlapping Model", which established his authority in this field.

From the data, the 2014 Nobel Laureate in Economics, Professor Jean Tirole, has made the most outstanding contribution to the development of economicsAnalysis of market forces and regulation。Of course, this is the authoritative statement of the Nobel Prize in economics, in fact, to put it simply, its main contribution is due to the publication of the above two classics.

Later, when he and Zhu Verdenberg co-authored Game Theory was published again, their book became the most authoritative graduate textbook in the field, and was even called the most widely used and classic in the industry. Even today, this work is recognized as one of the most cutting-edge textbooks in the field of game theory.

It can be seen that neither the Nobel laureate Professor Jean Tirolet nor Dr. Jú Verdenberg have made achievements in the economic field, but their achievements in the economic field cannot be described in a few hundred words, so I only use the words "analysis of market forces and regulation" to make a simple summary.

The main contributions of Nobel laureates in economics over the past 20 years are:

1998: Amartya Sen, an Indian, was awarded for his contributions to several major issues in welfare economics, including social choice theory, definitions of welfare and poverty criteria, and research on deprivation.

1999: Robert Mundell, a professor at Columbia University, USA, for his far-reaching analysis of monetary and fiscal policies and optimal currency areas under different exchange rate regimes.

2000: James J. Heckman and McFadden, in recognition of Heckman's development and contributions to the principles and methods of analyzing selective sampling, and McFadden's development and contributions to the principles and methods of analyzing discrete selection.

2001: Stiglitz, Spence and Akerlov, three American professors, were awarded for their important contributions to the field of "analysis of asymmetrical information markets".