IAS Prelims 2014 Results Announced - Article in Vijay Karnataka - VK Jobs 22 Oct 2014

IAS Prelims 2014 Results Announced - Article in Vijay Karnataka - VK Jobs 22 Oct 2014
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UPSC Civil Services (Prelims) 2014 Results Announced - Vijaya Next Career VK Weekly - 23 Oct 2014

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e-Learning - A Golden Opportunity of Joy Learning by Bedre Manjunath Published by Navakarnataka Publications

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The Nobel Prize for Economics 2014

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2014
Jean Tirole

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The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2014

Photo: Mme Tirole (IDEI). CC-BY-SA-3.0 via Wikimedia Commons

Jean Tirole

Prize share: 1/1

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2014 was awarded to Jean Tirole "for his analysis of market power and regulation".

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2014
Jean Tirole

English English (pdf) Swedish Swedish (pdf)

Press Release

13 October 2014
The Royal Swedish Academy of Sciences has decided to award The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2014 to
Jean Tirole
Toulouse 1 Capitole University, France
“for his analysis of market power and regulation”.

The science of taming powerful firms

Jean Tirole is one of the most influential economists of our time. He has made important theoretical research contributions in a number of areas, but most of all he has clarified how to understand and regulate industries with a few powerful firms.

Many industries are dominated by a small number of large firms or a single monopoly. Left unregulated, such markets often produce socially undesirable results – prices higher than those motivated by costs, or unproductive firms that survive by blocking the entry of new and more productive ones.
From the mid-1980s and onwards, Jean Tirole has breathed new life into research on such market failures. His analysis of firms with market power provides a unified theory with a strong bearing on central policy questions: how should the government deal with mergers or cartels, and how should it regulate monopolies?
Before Tirole, researchers and policymakers sought general principles for all industries. They advocated simple policy rules, such as capping prices for monopolists and prohibiting cooperation between competitors, while permitting cooperation between firms with different positions in the value chain. Tirole showed theoretically that such rules may work well in certain conditions, but do more harm than good in others. Price caps can provide dominant firms with strong motives to reduce costs – a good thing for society – but may also permit excessive profits – a bad thing for society. Cooperation on price setting within a market is usually harmful, but cooperation regarding patent pools can benefit everyone. The merger of a firm and its supplier may encourage innovation, but may also distort competition.
The best regulation or competition policy should therefore be carefully adapted to every industry’s specific conditions. In a series of articles and books, Jean Tirole has presented a general framework for designing such policies and applied it to a number of industries, ranging from telecommunications to banking. Drawing on these new insights, governments can better encourage powerful firms to become more productive and, at the same time, prevent them from harming competitors and customers.

Read more about this year's prize

Information for the Public Pdf 229 kb

Scientific Background Pdf 606 kb

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Illustration (pdf 583 kB)

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Jean Tirole, French citizen. Born 1953 in Troyes, France. Ph.D. 1981 from Massachusetts Institute of Technology, Cambridge, MA, USA. Scientific Director at Institut d’Économie Industrielle, Toulouse School of Economics, Toulouse 1 Capitole University, France.
www.idei.fr/vitae.php?i=3
The Prize amount: SEK 8 million.

Contacts: Jessica Balksjö Nannini, Press Officer, +46 8 673 95 44, +46 70 673 96 50, jessica.balksjo@kva.se
Tore Ellingsen, Chairman of The Committee for the Prize in Economic Sciences in Memory of Alfred Nobel, +46 8 736 92 60, tore.ellingsen@hhs.se

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This year marks the 275th anniversary of The Royal Swedish Academy of Sciences. The Academy was founded in 1739 and is an independent organization whose overall objective is to promote the sciences and strengthen their influence in society. The Academy takes special responsibility for the natural sciences and mathematics, but endeavours to promote the exchange of ideas between various disciplines.

The Nobel Peace Prize 2014
Kailash Satyarthi, Malala Yousafzay

The Nobel Peace Prize 2014

Kailash Satyarthi
Born: 11 January 1954, Vidisha, India
Residence at the time of the award: India
Prize motivation: "for their struggle against the suppression of children and young people and for the right of all children to education"
Prize share: 1/2
 

Malala Yousafzay

Born: 12 July 1997, Mingora, Pakistan
Residence at the time of the award: United Kingdom
Prize motivation: "for their struggle against the suppression of children and young people and for the right of all children to education"

Prize share: 1/2

The Nobel Peace Prize 2014 was awarded jointly to Kailash Satyarthi and Malala Yousafzay "for their struggle against the suppression of children and young people and for the right of all children to education"

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English

Norwegian

The Nobel Peace Prize for 2014

The Norwegian Nobel Committee has decided that the Nobel Peace Prize for 2014 is to be awarded to Kailash Satyarthi and Malala Yousafzay for their struggle against the suppression of children and young people and for the right of all children to education.  Children must go to school and not be financially exploited.  In the poor countries of the world, 60% of the present population is under 25 years of age.  It is a prerequisite for peaceful global development that the rights of children and young people be respected.  In conflict-ridden areas in particular, the violation of children leads to the continuation of violence from generation to generation.
Showing great personal courage, Kailash Satyarthi, maintaining Gandhi’s tradition, has headed various forms of protests and demonstrations, all peaceful, focusing on the grave exploitation of children for financial gain.  He has also contributed to the development of important international conventions on children’s rights.
Despite her youth, Malala Yousafzay has already fought for several years for the right of girls to education, and has shown by example that children and young people, too, can contribute to improving their own situations.  This she has done under the most dangerous circumstances.  Through her heroic struggle she has become a leading spokesperson for girls’ rights to education.
The Nobel Committee regards it as an important point for a Hindu and a Muslim, an Indian and a Pakistani, to join in a common struggle for education and against extremism.  Many other individuals and institutions in the international community have also contributed.  It has been calculated that there are 168 million child labourers around the world today.  In 2000 the figure was 78 million higher.  The world has come closer to the goal of eliminating child labour.
The struggle against suppression and for the rights of children and adolescents contributes to the realization of the “fraternity between nations” that Alfred Nobel mentions in his will as one of the criteria for the Nobel Peace Prize.
Oslo, 10 October 2014

Books for Translation - Vijaya Next 16 Oct 2014

Books for Translation - Vijaya Next 16 Oct 2014
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The Nobel Prize in Literature 2014

Patrick Modiano

The Nobel Prize in Literature 2014 was awarded to Patrick Modiano  

"for the art of memory with which he has evoked the most ungraspable 

human destinies and uncovered the life-world of the occupation".

The Nobel Prize in Literature 2014
Patrick Modiano

English English [pdf] Swedish Swedish [pdf] French French [pdf]

The Permanent Secretary Press Release
9 October 2014

The Nobel Prize in Literature 2014

Patrick Modiano

The Nobel Prize in Literature for 2014 is awarded to the French author Patrick Modiano
“for the art of memory with which he has evoked the most ungraspable human destinies and uncovered the life-world of the occupation”.