Fisher Black

Fisher Black was an influential American economist and financial theorist known for his work on option pricing and risk management. He is best known for the Black-Scholes model, developed alongside Myron Scholes, which provides a mathematical formula to determine the fair value of options—financial contracts that give buyers the right to purchase assets at a set price. This model revolutionized financial markets by allowing investors to assess and trade options more effectively, significantly impacting how derivatives are priced and traded globally. Black's contributions are fundamental to modern finance and have shaped investment strategies and risk analysis.