Jean-Jacques Laffont

Jean-Jacques Marcel Laffont (April 13, 1947 – May 1, 2004) was a French economist specializing in public economics and information economics.

Educated at the University of Toulouse and the Ecole Nationale de la Statistique et de l'Administration Economique (ENSAE) in Paris, he was awarded PhD in economics by Harvard University in 1975.

Laffont taught at the École Polytechnique (1975–1987), and was Professor of Economics at Ecole des hautes études en sciences sociales (1980–2004) and at the University of Toulouse I (1991–2001).

In 1991, he founded Toulouse's Industrial Economics Institute (Institut D'Economie Industrielle, IDEI) which has become one of the most prominent European research centres in economics.

His 1993 book A Theory of Incentives in Procurement and Regulation, written with Jean Tirole, is a fundamental reference in the economics of the public sector and the theory of regulation.

From 2001 until his death, he was the inaugural holder of the University of Southern California's John Elliott Chair in Economics.

Over the course of his career, he wrote 17 books and more than 200 articles.

In 2002, he published (with David Martimort) The Theory of Incentives: the Principal-Agent Model, a treatise on the economics of information and incentives.

His last book, Regulation and Development, discussed policies for improving the economies of less developed countries.

Jean-Jacques Laffont was diagnosed with cancer in autumn 2002 and died of the disease at his home in Colomiers in the Haute Garonne region of southern France on May 1, 2004.

He was survived by his wife, Colette; his daughters Cécile, Bénédicte and Charlotte; and his son, Bertrand.

Had he lived, he might well have shared the 2014 Nobel Prize for Economics awarded to his colleague and collaborator Jean Tirole.

Laffont made pioneering contributions in microeconomics, in particular, public economics, development economics, and the theory of imperfect information, incentives, and regulation.