Robert C. Merton and the Science of Finance

December 2019 | Biographical, Interviews
Starting with his 1970 doctoral dissertation and continuing to today, Robert C. Merton has revolutionized the theory and practice of finance. In 1997, Merton shared a Nobel Prize in Economics “for a new method to determine the value of derivatives.” His contributions to the science of finance, however, go far beyond that. In this article Dr. Zvi Bodie describes Merton's main contributions.