Publications

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Trust and the Future of Finance

November 8-9 2018 | Financial Innovation | Lectures, Presentations
The financial crisis led to a loss of trust in providers, regulators, and financial innovation among consumers, Merton observes. Some have proposed technology can stand in for trust, but he says fintech cannot create trust or succeed without it. Two things, however, can substitute for trust: verification and transparency. Some forms of fintech can provide verification, but financial advice tends to be opaque rather than transparent. Merton also discusses data showing retail investors as less satisfied with cost disclosures and performance from active portfolio managers than institutional investors.

Observations of Financial Innovation, Finance Science and Derivative Markets in Global Economic Growth & Development

October 6 2017 | Financial Innovation | Slide Presentations
Slide presentation at the UMASS Center for International Securities and Derivatives Markets

The financial innovator

August 10 2013 | Financial Innovation, Risk Management/Stocks | Article, Interview
The Business Times, p.10-11. Robert Merton talks to Vikram Khanna about financial innovation, risk and crises.