DEFINITION of 'Myron S. Scholes'
An American economist and winner of the 1997 Nobel Prize in Economics along with Robert Merton for their method of determining the value of stock options, the BlackScholes model. (Fischer Black, the coauthor of the BlackScholes equation on which the model is based, died in 1995.) Scholes' research has also focused on taxation and incentives.
BREAKING DOWN 'Myron S. Scholes'
Scholes earned an MBA and Ph.D. from the University of Chicago. He taught at the Massachusetts Institute of Technology (MIT) and the University of Chicago before joining Stanford in 1983 as a finance professor. Scholes was also a cofounder of the hedge fund LongTerm Capital Management, which was initially extremely successful but later failed spectacularly, which led to a group of large banks bailing them out to prevent an averse reaction in the financial markets.

Robert C. Merton
An American economist who won the 1997 Nobel Memorial Prize in ... 
Merton Model
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Black Scholes Model
A model of price variation over time of financial instruments ... 
Black's Model
A variation of the popular BlackScholes options pricing model ... 
William F. Sharpe
An American economist who won the 1990 Nobel Prize in Economics, ... 
Douglass C. North
An American economist and winner of the 1993 Nobel Memorial Prize ...

Trading
Options Pricing: BlackScholes Model
The BlackScholes model for calculating the premium of an option was introduced in 1973 in a paper entitled, "The Pricing of Options and Corporate Liabilities" published in the Journal of Political ... 
Trading
Understanding the BlackScholes Model
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Trading
NYIF Instructor Series: Black Scholes Model
In this short instructional video Anton Theunissen explains the Black Scholes model. 
Markets
Nobel Winners Are Economic Prizes
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Trading
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Trading
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Trading
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Investing
5 Nobel PrizeWinning Economic Theories You Should Know About
Here are 5 prizewinning economic theories that youâ€™ll want to be familiar with. 
Trading
Dividends, Interest Rates And Their Effect On Stock Options
Learn how analyzing these variables are crucial to knowing when to exercise early. 
Trading
The "True" Cost Of Stock Options
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What is the average return on equity for a company in the electronics sector?
Learn about the BlackScholes option pricing model and the binomial options model, and understand the advantages of the binomial ... Read Answer >> 
How is implied volatility used in the BlackScholes formula?
Learn how implied volatility is used in the BlackScholes option pricing model, and understand the meaning of the volatility ... Read Answer >> 
How is implied volatility for options impacted by a bearish market?
Learn why implied volatility for option prices increases during bear markets, and learn about the different models for pricing ... Read Answer >> 
What technical skills must one possess to trade options?
Learn about the technical skills required to trade options and how mathematical and computer science skills give you a better ... Read Answer >> 
Can delta be used to calculate price volatility of an option?
Learn how implied volatility is an output of the BlackScholes option pricing formula, and learn about that option formula's ... Read Answer >> 
How is the price of a derivative determined?
Learn how different types of derivatives are priced, including how futures contracts are valued and the BlackScholes option ... Read Answer >>