Myron Scholes

Myron Scholes is an influential economist and a key figure in the field of finance, best known for co-developing the Black-Scholes model. This groundbreaking formula helps determine the value of options, which are contracts giving the right to buy or sell assets at a specific price. His work has significantly impacted trading strategies and risk management in financial markets. In 1997, Scholes and his collaborator Robert Merton were awarded the Nobel Prize in Economic Sciences for their contributions to understanding financial derivatives and option pricing. Their research revolutionized how investors and institutions approach financial decision-making.