Fischer Black


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Fischer Black

An American economist known for his development of mathematical models for pricing investments. In particular, he helped create the Black-Scholes model, which is used to determine the appropriate price for option contracts. In the 1970s, he argued against both Keynesians, who believed central banks ought to have discretion to raise or lower the money supply, and monetarists, who thought the money supply should grow at a constant rate. Black lived from 1938 to 1995.
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Cox, Nomura Professor of Finance at the Massachusetts Institute of Technology; Robert Merton, a Nobel Memorial Prize winner in Economic Sciences; Fischer Black, the co-developer of the Black-Scholes formula which is widely used to value stock options in markets throughout the world; Mark Rubinstein, best known for his work on the Cox-Ross-Rubinstein binomial option pricing approach and his work on exotic options; Stephen Ross, the originator of the Arbitrage Pricing Theory and the co-discoverer of risk neutral pricing and of the binomial model for pricing derivatives; and Robert Jarrow, 1993 Mobil scholar, most recently known for his research relating to the pricing of credit derivatives and exotic options.
Derman, along with Fischer Black and Bill Toy, developed the Black-Derman-Toy interest-rate options model in 1987.
Kritzman also has served as a director on several boards, including The Center for International Securities and Derivatives Markets, The Fischer Black Memorial Foundation, The Institute for Quantitative Research in Finance and The International Association of Financial Engineers.
Fischer Black, Deceased and Myron Scholes, Oak Hill Capital
A classic reference source on options including two key papers by the late Fischer Black
Sharpe, creator of the Sharpe Ratio for risk-adjusted return analysis, and Fischer Black, co-author of the Black-Scholes options pricing model.
5 /PRNewswire/ -- The American Finance Association awarded the first Fischer Black Prize to Raghuram G.
While at the Sloan School, he was awarded the Henry Ford II Award for outstanding scholastic achievement and co-authored papers on pension fund investment policy with Fischer Black, an economist known for his work in co-developing the Black-Scholes option-pricing formula.
This tutorial provides in-depth analysis of the Black-Scholes option pricing model developed by Fischer Black and Myron Scholes in 1973.
He was named a partner of Goldman Sachs in 1994 and became head of the firm-wide risk function; prior to that role, he was co-head of the Fixed Income Research and Model Development Group with Fischer Black.
He later moved to Chicago where his work on the intricacies of financial markets earned him the prestigious Fischer Black Prize for the best academic in his field under 40.
Next enters Fischer Black as the physicist, Myron Scholes and Robert Merton as economists and Jack Treynor the undergrad physics major turned math major who later went to the Harvard Business School.