David Henderson on Jean Tirole's Nobel


My friend David Henderson has an insightful column assessing the awarding of the Nobel Prize in Economics to Jean Tirole, "The Economic Nuances of the Latest Nobel Laureate."

I'm most familiar with Tirole for his work on two-sided markets (discussed extensively by David) and which is the cornerstone of understanding the economics and regulation of payment cards. Tirole (along with Jean-Charles Rochet) noted the complex pricing associated with two-sided markets such as payment cards, search engines, and newspapers.

I'm not as familiar with much of Tirole's other work, although it appears to be voluminous. David's essay is a good introduction.