The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1997
Awarded on: 1997-10-14
"for a new method to determine the value of derivatives"
Affiliations:
- Harvard University – Cambridge, MA, USA
Robert C. Merton
Born: 1944-07-31 in New York, NY, USA
Gender: male
Field: American economist
Biography
Robert Cox Merton is an American economist, Nobel Memorial Prize in Economic Sciences laureate, and professor at the MIT Sloan School of Management, known for his pioneering contributions to continuous-time finance, especially the first continuous-time option pricing model, the Black–Scholes–Merton model. In 1997 Merton together with Myron Scholes were awarded the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel for the method to determine the value of derivatives.