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.

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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 >> 
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 >> 
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 >> 
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 >>