Search engine for discovering works of Art, research articles, and books related to Art and Culture
Javascript must be enabled to continue!
In Honor of the Nobel Laureates Robert C. Merton and Myron S. Scholes: A Partial Differential Equation That Changed the World
View through CrossRef
The Nobel Prize was given to Robert C. Merton and Myron S. Scholes for discovering a new method for determining the value of an option. This is known as the Black-Merton-Scholes option pricing formula. The purpose of this essay is to explain why the Black-Merton-Scholes option pricing formula is so important to the finance profession, the economics profession, the financial industry, and society at large. This is done by studying the history of the formula's development, the economic logic underlying the formula's derivation, and the formula's ramifications for the various professions.
Title: In Honor of the Nobel Laureates Robert C. Merton and Myron S. Scholes: A Partial Differential Equation That Changed the World
Description:
The Nobel Prize was given to Robert C.
Merton and Myron S.
Scholes for discovering a new method for determining the value of an option.
This is known as the Black-Merton-Scholes option pricing formula.
The purpose of this essay is to explain why the Black-Merton-Scholes option pricing formula is so important to the finance profession, the economics profession, the financial industry, and society at large.
This is done by studying the history of the formula's development, the economic logic underlying the formula's derivation, and the formula's ramifications for the various professions.
Related Results
Testing Honor Concern's Distinctiveness and Sensitivity to Honor Threats
Testing Honor Concern's Distinctiveness and Sensitivity to Honor Threats
Honor concern is an ideology describing the amount an individual views their reputation as their self-worth and community standing. Honor concern describes what is honorable in gen...
Robert K. Merton
Robert K. Merton
Robert King Merton (b. 4 July 1910–d. 23 February 2003) was born to Yiddish-speaking Russian-Jewish parents in South Philadelphia, as Meyer Robert Schkolnick. Merton’s mother, Ida ...
Exploring Nobel Laureates' Question Selection Characteristics from a Topical Perspective
Exploring Nobel Laureates' Question Selection Characteristics from a Topical Perspective
Selecting a research question is the starting point of scientists' research activities, playing a crucial
role not only in their career development, and further exploration is need...
Black–scholes equation in quantitative finance with variable parameters: a path to a generalized schrodinger equation
Black–scholes equation in quantitative finance with variable parameters: a path to a generalized schrodinger equation
Abstract
Background
The Black–Scholes–Merton model is considered one of the most important pricing models for financial i...
Qualitative financial modelling in fractal dimensions
Qualitative financial modelling in fractal dimensions
Abstract
The Black–Scholes equation is one of the most important partial differential equations governing the value of financial derivatives in financial markets. The Bla...
Csokoládéfogyasztás és a magyar Nobel-díjasok
Csokoládéfogyasztás és a magyar Nobel-díjasok
Abstract: Introduction: Certain dietary items contain significant amounts of flavonoids which was shown to improve cognitive function. An earlier investigation demonstrated a stro...
If I Had Possession over Judgment Day: Augmenting Robert Johnson
If I Had Possession over Judgment Day: Augmenting Robert Johnson
augmentvb [ɔːgˈmɛnt]1. to make or become greater in number, amount, strength, etc.; increase2. Music: to increase (a major or perfect interval) by a semitone (Collins English Dicti...
The electronic nobel museum
The electronic nobel museum
The Nobel Foundation and the Nobel Prize-Awarding Institutions plan to celebrate the centenary of the first Nobel Prizes in 2001 by expanding the Nobel Website (http://www.nobel.se...