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VOA慢速英語:法國經(jīng)濟學家獲諾貝爾獎FrenchEconomistWinsNobelforStudiesinMarketRules

ByMarioRitter

18October,2022

Economistshavestudiedhowmarketsworkforalongtime.Generally,theyworkwell.Butmarketsdonotalwaysperformasexpected.JeanTiroleofFrancewontheNobelPrizeinEconomicsforstudyingwhymarketsareimperfect,orinefficient,andwhatgovernmentscandotoregulatethem.

TheRoyalSwedishAcademyofSciencesannouncedthe$1.1millionprizeinStockholmonMonday.ItcalledMr.Tirole“oneofthemostinfluentialeconomistsofourtime.“Theorganizationsaidhehaddoneimportantresearchinanumberofareas.But,itsaid,“mostofallhehasclarifiedhowtounderstandandregulateindustrieswithonlyafewpowerfulfirms.“Asmallnumberofcompaniesthatcontrolanindustryiscalledanoligopoly.

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JeanTiroleofFrancewonthe2022NoblePrizeineconomicsforhisworkonregulatingmarketsinfluencebyonlyafewbigcompanies.(APPhoto/FredScheiber)

Forabout30years,Mr.Tirolehasresearchedperiodswhenmarketsfailed,thatis,whentheydidnotprovidegoodresultsinpriceandcompetition.Helookedathowasmallnumberoflargecompanies,orevenasinglecompany,canstronglyinfluenceindustries.Bankingandtelecommunicationswereamongtheindustrieshestudied.

TheNobelcommitteesaidthatunregulatedmarketsoftenproducesociallyundesirableresults.Theycanresultinhigherpricesorcompaniesthatusetheirmarketpositiontoblockothers.ThecommitteesaiditchoseMr.Tirolebecausehethoughtabouthowbesttoregulatemarkets.

Forexample,ToreEllingsensaysMr.Tiroleshowedtheneedtodevelopbetterrulesforthebankingindustry.Thisgainedurgencyaftertheworldfinancialcrisisof2022-2022.Mr.EllingsenisChairmanofthecommitteethatawardstheeconomicsprize.

“JeanTiroleisreallytryingtounderstandwhatisitthatdrivestheownersofbanks.Whataretheirobjectives,andwhataretheydriventodoifregulationisverylax?Andhethencomestotheconclusionthatwhattheyaredriventodoistotakerisksthatarefartoolargefromthepointofviewofthepublicinterest.Sothereneedstobetougherregulatoryregime,inparticularforinvestmentbanks.“

Mr.TiroleworksattheToulouseSchoolofEconomicsinToulouse,France.Heis61yearsold.

TheeconomicsprizeiscalledtheBankofSwedenPrizeinEconomicSciencesinMemoryofAlfredNobel.AlfredNobeldidnotestablishtheprize.Itwasfirstpresentedin1969.

TheNobeleconomicsprizewillbepresentedataceremonyinStockholm,Sweden,onDecember10th.

I”mMarioRitter.

MarioRitterwrotethisstorywithreportingformVOA”sIsabelaCocoli.CatyWeaverwastheeditor.

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WordsinthisStory

market-n.aplaceorsysteminwhichgoodsaresold,boughtortradedandwherepricesaredecided

regulate-v.tomakerulesorlawsthatcontrolsomething;tobringsomethingunderthecontrolofanofficialgrouporauthority

influential-adj.havingthepowertocausechanges;tohaveinfluence

oligopoly-n.whenasmallnumberofcompaniescontrolanindustry

competition–n.asituationinwhichtwoormoreindividuals,groupsorcompaniesaretryingtomakegreatergainsthattheothers

Nowit”sy

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