Robert Merton (Economist)

Robert Merton is a renowned American economist known for his contributions to financial theory and risk management. He played a key role in developing the Black-Scholes model, which helps determine the pricing of options and financial derivatives. Merton's work integrates concepts from mathematics and economics to understand financial markets. He also explored the idea of "social goals," highlighting how societal values influence individual economic behavior. His innovative research has had a lasting impact on finance and economics, earning him the Nobel Prize in Economic Sciences in 1997 for his insights into the dynamics of financial markets.