File:Myron_Scholes_2008_in_Lindau.png · Wikimedia Commons · See Wikimedia Commons
Key facts
- Born
- Myron Samuel Scholes , ( 1941-07-01 ) July 1, 1941 (age 84) , Timmins, Ontario , Canada
- Alma mater
- McMaster University (BA), University of Chicago (MBA, PhD)
- Doctoral advisor
- Eugene Fama , Merton Miller
- Influences
- George Stigler , Milton Friedman , Eugene Fama , Merton Miller
- Discipline
- Financial economics
- School or tradition
- Chicago school of economics
- Institutions
- MIT Sloan School of Management , University of Chicago , Stanford University , Janus Henderson
- Notable ideas
- Black–Scholes model , Dynamic hedging , Tax planning
- Awards
- Nobel Memorial Prize in Economics (1997)
- Website
- Information at IDEAS / RePEc
via Wikipedia infobox
Nobel Prize
- The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel1997
“for a new method to determine the value of derivatives”
Shared · 1/2 portion
Wikidata facts
- Instance of
- human
- Given name
- Samuel
- Gender
- male
- Citizenship
- Canada
- Place of birth
- Timmins
- Occupation
- researcher
- Employer
- University of Chicago
- Languages spoken
- English language
- Doctoral advisor
- Clark Gregg
- Field of work
- economics
- Official website
- news.stanford.edu/news/2001/october3/scholes-103.html
- Image
- Myron Scholes 2008 in Lindau.png
Show 6 more facts
- Commons category
- Myron Scholes
- date of birth
- 1941-07-01
- member of
- Econometric Society
- name in native language
- Myron Samuel Scholes
- maintained by WikiProject
- WikiProject Mathematics
- interested in
- economics
Sources (6)
via Wikidata · CC0
~9 min read
Encyclopedic overview
Myron Samuel Scholes (/ʃoʊlz/ SHOHLZ; born July 1, 1941) is a Canadian–American financial economist. Scholes is the Frank E. Buck Professor of Finance, Emeritus, at the Stanford Graduate School of Business, Nobel Laureate in Economic Sciences, and co-originator of the Black–Scholes options pricing model. This mathematical model, developed with Fischer Black, revolutionized finance by providing a systematic way to value options through the elimination of risk via dynamic hedging.
In 1997, Scholes was awarded the Nobel Memorial Prize in Economic Sciences (shared with Robert C. Merton) for a "new method to determine the value of derivatives." The Royal Swedish Academy of Sciences noted that their work made it possible to observe the value of options in a scientific manner, effectively creating a foundation for the rapid growth of financial markets and the management of economic risk across the globe.
Excerpted from Wikipedia’s “Myron Scholes” article, available under the CC BY-SA 4.0 licence.