Robert C. Merton (Nobel laureate)

Robert C. Merton is an American economist who won the Nobel Prize in Economic Sciences in 1997, alongside Myron Scholes, for their groundbreaking work on options pricing. They developed the Black-Scholes model, a mathematical formula that helps investors determine the fair price of options—contracts that give the right to buy or sell assets at a specified price. This model revolutionized financial markets by providing tools for managing risk and valuing derivatives, influencing everything from corporate finance to investment strategies. Merton's work has had a lasting impact on economics and finance, shaping modern investment practices.