Robert C. Merton

Robert C. Merton is an influential American economist known for his work in finance, particularly regarding options pricing and risk management. He co-developed the Black-Scholes model, which provides a mathematical framework to evaluate the prices of financial options. Merton's research has significantly shaped modern financial theory and investment strategies. In 1997, he was awarded the Nobel Prize in Economic Sciences for his insights into the valuation of derivatives and the role of risk in financial markets. His contributions have greatly enhanced our understanding of financial instruments and their implications for investors and the economy.