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Strategy Lessons From Jean Tirole

Harvard Business Review

In the “ Scientific Background ” essay on Tirole’s work provided by the Nobel committee, the focus is on Tirole’s work on industry structure, which has had a big impact on antitrust and other regulation, especially in Europe. But Tirole’s 1980s work on industrial organization also found its way into thinking about business strategy. In the early 1980s, the game theory approach to studying industries promised to be the next big wave in strategy. Corporate finance?