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JanFeb2015

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62 BizEd JANUARY | FEBRUARY 2015 PHOTOGRAPH BY AP/IMAGES Relevance Rewarded JEAN TIROLE WINS NOBEL PRIZE LATE LAST FALL, FRENCH ECONOMIST Jean Tirole was awarded the 2014 Nobel Memorial Prize in Economic Science. Tirole is president of the Toulouse School of Economics and scientific director of the Institut d'Économie Industrielle. He was recognized for his work in determining how analysts and policy- makers can understand and regulate industries with monopolies or a few powerful firms. According to the official press release, "Left unregulated, such markets often produce socially undesirable results—prices higher than those motivated by costs, or unproductive firms that survive by block- ing the entry of new and more productive ones." Tirole considered how governments should regulate monopolies and showed that policy rules that apply in some market situations—such as capping prices and prohibiting price cooperation between competitors— might be bad approaches for industries where a few large players hold sway. He proposed that the best regulation policies should be adapted to each individual sector. While his work is grounded in theory, it has sweeping practical relevance and has been used to regulate industries from credit to telecommunications. NEW APPOINTMENTS Maury Peiperl has been named pro-vice-chancellor and director of Cranfield University's School of Management in the U.K. He most recently was a professor of leadership and strategic change at IMD. He will replace interim director Joe Nellis early in 2015. Ann Huff Stevens was named interim dean of the Graduate School of Management at the University of California Davis. She is chair of the university's economics department and director of its Center for Poverty Research. Karim Seghir is the new dean of the School of Business at the American University in Cairo, Egypt. He previously was associate dean of undergraduate studies and administration, and he led the school's accreditation efforts, which have led to triple accreditation from AACSB, EQUIS, and AMBA. Tim O'Keefe is the new dean of the College of Business at the University of West Florida in Pen- sacola. O'Keefe, who previously served as interim dean and director of graduate programs, will contin- ue to hold his position as a professor of accounting. Anil K. Makhija has been named dean and John W. Berry Sr. Chair in Business of The Ohio State Universi- ty's Fisher College of Business in Columbus. Makhija, who holds the Dean's Distinguished Professorship, served as the school's senior associate dean. Don Ross has been appointed dean of the Waikato Management School in Hamilton, New Zealand. He was most recently dean of the Faculty of Commerce and professor of economics at the University of Cape Town in South Africa. He also is a research fellow at the Centre for Economic Analysis of Risk at Georgia State University. David Hummels has been tapped as interim dean of Purdue University's Krannert School of Management in West Lafayette, Indiana. Hummels is a professor of economics at Purdue and research associate of the National Bureau of Economic Research. He succeeds Christopher Earley. Earley wil have a full-time appointment in Krannert's depart- ment of management and a courtesy appointment in the department of psychological science. people+places

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