MIT recognizes winner for Nobel prize in economics

Jean Tirole won Nobel prize for economics on Monday

Photo Courtesy: MGNonline

CAMBRIDGE, Mass. (AP) — The winner of the Nobel prize for economics is being remembered at the Massachusetts Institute of Technology not just for his brilliance, but for his modesty and engaging personality.

Jean Tirole won the prize Monday for research on market regulation that has helped policymakers understand how to deal with industries dominated by a few companies.

Even though Tirole lives and works in France, the announcement set off celebrations across the Atlantic at MIT where Tirole earned his doctorate in 1981 and is still a visiting professor who comes to campus three times per year.

MIT professor Nancy Rose describes Tirole as an “extremely charming and modest person” and “one of the clearest thinkers I know.”

Professor Bengt Holmstrom, who collaborated on a book with Tirole, says he’s “committed to bettering the world.”

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