Myron Samuel Scholes (born July 1, 1941) is one of the authors of the Black-Scholes equation. In 1997 he was awarded the Nobel Memorial Prize in Economic Sciences for "a new method to determine the value of derivatives". The model provides the fundamental conceptual framework for valuing options, such as calls or puts, and is referred to as the Black-Scholes model, which has become the standard in financial markets globally. Trillions of dollars of options trades are executed each year using this model and derivations thereof. All binomial option models have evolved from this original concept. (via Wikipedia)

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About Myron Scholes

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Residence: United States

Name: Myron Scholes

Nationality: Canada, United States

Associated With: MIT
Platinum Grove Asset Management 1999-
University of Chicago
LTCM
Stanford University

Birthplace: Timmins, Ontario, Canada

Awards: Nobel Memorial Prize in Economic Sciences (1997)

Field: Financial economics

Advisor: Merton Miller

Known for: Black–Scholes model

Birth Date: Jul 1, 1941

University Attended: McMaster University (B.A. 1962)
University of Chicago (Ph.D. 1969)

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