Myron S. Scholes

Myron S. Scholes is a renowned American financial scientist and economist best known for developing the Black-Scholes model, a groundbreaking method for valuing options and other financial derivatives. This model helps investors and firms assess the fair price of options, reducing uncertainty in financial markets. Scholes' work significantly impacted modern finance by providing a systematic approach to managing financial risk. In 1997, he was awarded the Nobel Memorial Prize in Economic Sciences, along with Robert Merton, for their contributions to understanding options pricing and financial economics.