1997
Robert C. Merton
Picture
(1944 - 0)
Nationality
USA
Area of specialisation
Financial Economics
Price Motivation
For a new method to determine the value of derivatives
Affiliation at the time of Award
Harvard university
CONTRIBUTION
He had a direct influence on the development of the black schools formula and generalized it in important ways. By devising another way of deriving the formula, he applied it other financial instruments, such as more mortgages and student loans. The work generated new financial instruments and has facilitated more effective risk management in society
PUBLICATIONS
1, Theory of rational option pricing (1973). 2, Systematic risk and the refinancing Ratchet Effect (2009). 3, Adjusted actuarial cost price conflicts with transparency requirements (2010). 4, Forward (2015).