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Myron Scholes
Economist

Myron Scholes

Famoose for

Co-developing the Black–Scholes option-pricing model.

Option pricing · Nobel recognition

Born
1 July 1941
Birthplace
Timmins

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Myron Scholes

Myron Scholes is a Canadian-American financial economist who shared the 1997 economics Nobel with Robert C. Merton.

Early life

Education

Grew up in Ontario, studied economics at McMaster and completed graduate degrees at Chicago.

Career

  1. 1968

    MIT

    Joined the faculty and began collaborating with Fischer Black.

  2. 1973

    Chicago

    Moved to the University of Chicago.

  3. 1981

    Stanford

    Joined its faculty.

  4. 1990s

    Investment management

    Became a principal of Long-Term Capital Management, which required a rescue in 1998.

Selected work

Option pricing

Published the influential model with Fischer Black.

Nobel recognition

Was honoured for a new method of valuing derivatives.

Beyond work

Sight and adaptation

A cornea transplant at 26 improved the impaired eyesight that had shaped how he studied and worked.

Sources & photo creditBiography and career ↗Biographical references ↗Additional biographical source ↗

Original photograph. Cropped and displayed in monochrome.

Photo: The original uploader was Nobellaureatesphotographer at English Wikipedia.. CC BY-SA 3.0 · Original image. Cropped and displayed in monochrome.