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Patrick Modiano was awarded the Nobel Prize 2014 in Literature

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Born: 30 July 1945, Paris, France

Residence at the time of the award: France

Prize motivation: “for the art of memory with which he has evoked the most ungraspable human destinies and uncovered the life-world of the occupation”

French author Patrick Modiano, who has examined memory, identity and loss in the post-war era with elegant and spare prose, won the 2014 Nobel Prize in Literature.

His books are celebrated in France—and have been translated into 36 languages.“It felt like looking at a double, as if we were celebrating somebody who had my name,” Mr. Modiano said. “I didn’t expect it at all.” The 18 members of the Academy chose a notably accessible writer this year, one who has written children’s books, detective mysteries, screenplays and more than 20 novels. Mr. Modiano co-wrote the script for the 1974 film, “ Lacombe, Lucien,” with director Louis Malle.

Paris is a recurring character in Mr. Modiano’s work. Most of his novels are set in the city, even though the characters often are trying to dodge real or perceived threats by escaping to the French Riviera or Switzerland.

(source: Wall Street Journal and Nobelprize.org)

 Jean Tirole was awarded the Nobel Prize 2014 in Economic Sciences

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Born: 9 August 1953, Troyes, France

Affiliation at the time of the award: Toulouse 1 Capitole University, Toulouse, France

Prize motivation: “for his analysis of market power and regulation”

Field: industrial organization, microeconomics

Jean Tirole, a French economist whose theories about the behavior of large companies underpin modern antitrust regulation, won this year’s Nobel Prize in Economic Sciences.

It was the first time in more than 30 years that the prize has been given for the study of regulation, a topic that has moved well beyond academia since the financial crisis.

At the core of Mr. Tirole’s work are models, often densely mathematical, that describe monopolies, oligopolies and markets. But he also has ranged widely across industries, among them payment cards and telecommunications, to produce studies of their particular function and dysfunction. Among his prescient works were examinations,in the late 1990s of the importance of banks having access to assets that can be quickly turned into cash. Regulators around the globe are today putting in place rules that require banks to hold more such liquid assets.

Mr. Tirole, who is 61, is the second Frenchman to receive a Nobel this year; novelist Patrick Modiano won for literature.“What a snub to French-bashing!” the French prime minister, Manuel Valls, tweeted. The head of France’s central bank, Christian Noyer, said Mr. Tirole’s work on the power of regulation was a great asset during the financial crisis.“This award is recognition of exceptional work and it also shines a light on the excellence of economic research in our country,” Mr. Noyer said.

(source: Wall Street Journal and Nobelprize.org)

 

 

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