French economist wins Nobel for tackling monopolies

[cali]

French economist Jean Tirole has won the 2014 Nobel prize for economics for his work on how to regulate powerful companies.

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Tirole has spent the last 30 years studying how a small number of large firms can dominate markets and the damage that can do -- and how governments should respond.

He argues that the best regulation is adapted to the conditions of each industry, such as telecoms and banking, rather than trying a one-size-fits-all approach.

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http://money.cnn.com/2014/10/13/news/economy/nobel-prize-economics/