Congratulations to Jean Tirole, recipient of 2014 Nobel Prize in Economic Science

Around this time last year the Press could not have been more excited. Why? Two of the three 2013 Nobel Prize in Economic Sciences awards went to PUP authors Lars Peter Hansen and Robert J. Shiller, authors of Robustness and Irrational Exuberance, respectively. To see just how excited we were, click here, here, or here. Amazingly enough, there was no shortage of excitement at the Press following this year’s announcement of the 2014 Nobel Prize in Economic Sciences award as Jean Tirole, author of Financial Crises, Liquidity, and the International Monetary System, The Theory of Corporate Finance, and co-author of Balancing the Banks: Global Lessons from the Financial Crisis, is the sole recipient.

“If we had more researchers like Jean Tirole it would be a very good thing for the world.”

The official Nobel Prize press release states Jean Tirole, head of economics at Toulouse University in France, won The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel for 2014, “for his analysis of market power and regulation,” but this is just a fraction of the contribution he has made to economic theory and its real world implications. In an interview (which can be seen below) Chairman of the Committee for the Prize in Economic Sciences in Memory of Alfred Nobel, Tore Ellingsen, praised Tirole for his tireless efforts to better understand and explain how governments could regulate industries dominated by monopolies. When asked if it was difficult to choose a winner for the award this year, Ellingsen explained, “Yes and no. It’s been clear for some time now that Jean Tirole is a worthy recipient, but the question has been for what, alone or with whom, and when?” The interview concludes with wishful thinking; “If we had more researches like Jean Tirole it would be a very good thing for the world.”

Tirole has been an active member and contributor to economic theory since the 1980′s, and although “his work is largely theoretical…it has translated easily to practical use.” As a New York Times article further notes, “[Tirole's] work is also wide ranging. A description of his influence published by the prize committee cited more than 60 papers, an unusually large number.”

Peter J. Dougherty, Director of Princeton University Press had the following to say about Tirole’s impact on the field of economics and his much deserved recognition. “Jean Tirole’s 2006 book, The Theory of Corporate Finance, marked an important moment in economics as well as in the history of Princeton’s economics list. We extend our most heartfelt congratulations to Professor Tirole on the occasion of his Nobel prize.”

Again, on behalf of all of us at PUP, we would like to congratulate and thank Jean Tirole for keeping the Nobel Prize in Economic Sciences award in house. And who knows, maybe next year we’ll be posting about a three-peat… fingers crossed!

Princeton University Press Nobelists

600px-NobelPrizeJust in case you haven’t heard, Robert J. Shiller, a professor at Yale University, has won the 2013 Nobel Prize in Economics along with Eugene Fama and Lars Peter Hansen. Both Shiller and Hansen have published books with Princeton University Press before, so we are specially excited about this news!

To read a little more about these authors and this incredible accomplishment, click here.

In honor of these amazing gentlemen, we’ve put together a list of all 48 of the Nobel Prize winners that the Press has published. Some of the highlights include Woodrow Wilson, former President of Princeton University and the 28th President of the United States, and Albert Einstein, who published more than 300 scientific papers throughout his astounding academic career.

S. Y. Agnon
George Akerlof
Philip W. Anderson
Kenneth Arrow
Robert J. Aumann
Baruch S.Blumberg
Robert Coetzee
Peter A. Diamond
Manfred Eigen
Albert Einstein
Robert Engle
Richard Feynman
Val L. Fitch
Milton Friedman
Clive W. J. Granger
Günter Grass
David J. Gross
François Jacob
Lars Peter Hansen
J. J. Heckman
William Arthur Lewis
Mario Llosa
Maurice Maeterlinck
Daniel L. McFadden
Hervé Moulin
John Nash
Douglass C. North
Elinor Ostrom
Luigi Pirandello
Christopher A. Pissarides
Edmund S. Phelps
Alvin E. Roth
Thomas J. Sargent
George Seferis
Amartya Sen
Lloyd S. Shapley
William F. Sharpe
Robert Shiller
Vernon Smith
Robert Solow
Michael Spence
Joseph Stiglitz
Wislawa Szymborksa
Hermann Wey
Eugene P. Wigner
Frank Wilczek
Woodrow Wilson

In the past three years alone, five authors published with the Press have won the Nobel Prize, all of which were for the Economic Sciences:

1) Robert J. Shiller is the best-selling author of Irrational Exuberance and The New Financial Order (both Princeton University Press titles), among other books. He is the Arthur M. Okun Professor of Economics at Yale University and a 2013 Nobel Prize winner.

2) Lars Peter Hansen is the David Rockefeller Distinguished Service Professor at the University of Chicago, where he is also the research director of the Becker Friedman Institute. He is a 2013 Nobel Prize winner. His most recent book, Recursive Models of Dynamic Linear Economies, was co-authored with Thomas J. Sargent, another Nobel laureate on this list.

3) Alvin E. Roth is the George Gund Professor of Economics and Business Administration in the Department of Economics at Harvard University, and in the Harvard Business School and the the Craig and Susan McCaw Professor of Economics at Stanford University. He won the Nobel Prize in 2012 and is the author of The Handbook of Experimental Economics.

4) Lloyd Stowell Shapley is a Professor Emeritus at UCLA, affiliated with departments of Mathematics and Economics. He won the Nobel Prize in 2012 “for the theory of stable allocations and the practice of market design.”

5) Thomas J. Sargent is professor of economics at New York University and a senior fellow at the Hoover Institution at Stanford University. His books include Rational Expectations and Inflation and The Conquest of American Inflation. Hansen and Sargent are the coauthors of Robustness. He was awarded the Nobel Prize in economics in 2011.