Keynote lecture Jean Tirole (Nobel Prize Winner 2014 in Economics Sciences)

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Jean Tirole, Nobel Prize Winner 2014 in Economic Sciences, presented his work on Repeated Relationships with Positive Selection during the Spring Meeting of Young Economists 2015, an international conference for young non-tenured researchers in economics. This year’s edition was organized by the faculty of Economics and Business Administration (Ghent University). Title of the lecture: Moving Up a Demand Curve: Repeated Relationships with Positive Selection Abstract: In a number of interesting environments, dynamic screening involves positive selection: in contrast with Coasian dynamics, only the most motivated remain over time. This work provides conditions under which the principal’s commitment solution is time consistent and uses this result to derive testable predictions under permanent or transient shocks. It also identifies environments in which time consistency does not hold despite positive selection, and yet simple equilibrium characterizations can be obtained. Biography: “As one of the world’s leading economists, Tirole has been influential in the theoretical and practical application of game theory and information theory to industrial organization and regulation . His research interests also include finance, macroeconomics, international finance and economics and psychology. Tirole also serves as chairman of the executive committee of the Institute for Advanced Study in Toulouse (IAST), which he helped found in 2011. He is an annual visiting professor at the Massachusetts Institute of Technology (MIT) in the department of economics, where he was a professor for eight years before moving to Toulouse in 1992. He is the laureate of the 2014 Nemmers prize in economics and received the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel in the same year.”

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