Robert C. Merton (1944- )

Awarded the Prize “for a new method to determine the value of derivatives.”

American economist. Merton was born on July 31, 1944 in New York. He obtained his B.S. at Columbia University, his M.S. at California Institute of Technology his Ph.D. degree in 1970 from Massachusetts Institute of Technology, where he was a professor until 1988. Subsequently, Merton moved to Harvard University, where he was George Fisher Baker Professor of Business Administration from 1988 to 1998 has held the John Natty McArthur University Professorship since 1998.
Major Works:
Continuous-Time Finance (1990); The Global Financial System: A Functional Perspective (1995); Finance (1998); Finance (2000)