Myron Scholes
Myron Scholes Scholes in 2008 Born (1941-07-01) July 1, 1941 (age 73) Timmins, Ontario, Canada Nationality Canada, United States Field Financial economics School or tradition Chicago school of economics Alma mater University of Chicago, McMaster University Influences George Stigler, Milton Friedman, Merton Miller Contributions Black–Scholes model Awards Nobel Memorial Prize in Economics (1997) Information at IDEAS / RePEc Myron Samuel Scholes (/ʃoʊlz/; born July 1, 1941) is a Canadian-American financial economist. In 1997 he was awarded the Nobel Memorial Prize in Economic Sciences for a method to determine the value of derivatives. The model provides a conceptual framework for valuing options, such as calls or puts, and is referred to as the Black–Scholes model. Together with fellow Nobel prize winner Robert C. Merton he founded the hedge fund Long-Term Capital Management which dramatically collapsed in 1998.