Robert C. Merton
b. 1944
American economist (1944-)
- Born
- 31 Jul 1944 · New York City
Life timeline
Their life from birth to death. On the timeline, world events of the time are shown faintly.
- 31 Jul 1944BornBorn in New York City
- 1983AwardFellow of the Econometric Society
- 1995AwardHonorary doctor of Paris Dauphine University
- 1997AwardPrize in Economic Sciences in Memory of Alfred Nobel
- 2010AwardThe Kolmogorov Lecture and Medal
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Meanwhile in the world
Major world events during their lifetime (1944 – today).
- 1945Atomic bombings of Hiroshima and Nagasaki
- 1945 – 1946Nuremberg trials
- 19501950 FIFA World Cup
- 1950 – 1953Korean War
- 1953 – 1959Cuban Revolution
- 19541954 FIFA World Cup
- 1955 – 1975Vietnam War
- 1956Hungarian Revolution of 1956
- 1956Suez Crisis
- 19581958 FIFA World Cup
- 1959Antarctic Treaty System
- 19621962 FIFA World Cup
- 1962Cuban Missile Crisis
- 19661966 FIFA World Cup
- 1966 – 1976Cultural Revolution
- 1968Prague Spring
- 1969Apollo 11 Moon landing
- 19721972 Summer Olympics
- 19741974 FIFA World Cup
- 19781978 FIFA World Cup
- 1978 – 1979Iranian Revolution
- 1979 – 1989Soviet–Afghan War
- 1980 – 1988Iran–Iraq War
- 19841984 Summer Olympics
- 1985Schengen Agreement
- 19891989 Tiananmen Square protests and massacre
- 1989Fall of the Berlin Wall
- 19901990 FIFA World Cup
- 1991Dissolution of the Soviet Union
- 19941994 FIFA World Cup
- 1994 – 1996First Chechen War
- 19981998 FIFA World Cup
- 2001 – 2021War in Afghanistan
- 2003 – 2011Iraq War
- 20042004 Indian Ocean earthquake and tsunami
- 20062006 FIFA World Cup
- 20082008 Summer Olympics
- 2008Russo-Georgian War
- 20102010 Haiti earthquake
- 2010 – 2012Arab Spring
Biography
Robert Cox Merton (born July 31, 1944) is an American economist, Nobel Memorial Prize in Economic Sciences laureate, and professor at the MIT Sloan School of Management. He is best known for his pioneering contributions to continuous-time finance, particularly the first continuous-time option pricing model, the Black–Scholes–Merton model.
In 1997, Merton and Myron Scholes were jointly awarded the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel for developing a method to determine the value of derivative securities.
Merton was on the board of directors of Long-Term Capital Management (LTCM), a highly leveraged hedge fund that collapsed in 1998, wiping out most of the value paid in by the investors, and requiring a $3.6 billion bailout from a group of 14 banks, in a deal brokered and put together by the Federal Reserve Bank of New York.
Merton's current research focus is on the topics of lifecycle investing and retirement funding, measuring and monitoring systemic risks in macrofinance, and financial innovation coupled with changing dynamics in financial institutions.
Text from the Wikipedia article Robert C. Merton, CC BY-SA 4.0
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