Robert C. Merton Biography, Age, Weight, Height, Friend, Like, Affairs, Favourite, Birthdate & Other

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Robert C. Merton

This Biography is about one of the best Economist Robert C. Merton including his Height, weight,Age & Other Detail…

Biography Of Robert C. Merton
Real Name Robert C. Merton
Profession Economists
Nick Name Robert Cox Merton
Famous as Economist
Nationality American
Born in New York City, New York, USA
Personal Life of Robert C. Merton
Father Robert K. Merton
Mother Suzanne Carhart
Spouse/Partner June Rose (1966-1996)
Children Samantha J., Robert F., Paul J
Education Columbia University, California Institute of Technology, Massachusetts Institute of Technology
Awards Nobel Memorial Prize in Economic Sciences (1997)
Personal Fact of Robert C. Merton

Robert C. Merton is an American economist who received the Nobel Prize in Economics for his work on developing a financial theory on the risk management of stock derivatives. He also contributed to the assessment of stock options and derivatives. He shared the Nobel Prize with another economist Myron S. Scholes whose Black-Scholes Formula for the valuation of options, developed in collaboration with Fischer Black, provided the basic foundation for Merton’s work. Fischer Black could not share the Nobel Prize with Merton and Scholes as he had died in 1995.

Merton’s research work covered a large number of aspects related to finance and economics. His main work which probably produced the maximum impact was the work on determining the value of options. Before the development of the Black-Scholes Formula it was very difficult and risky to determine the value of stock options which allowed the investors to sell the assets at any price at any point of time. The investors used to incorporate some hedge money as a risk premium into the price of options as safety measure against major financial losses.

The Black-Scholes Formula showed that risk premiums are already factored into the price of options. Merton’s work was to elaborate this formula so that it could be generalized for other things such as mortgages and student loans.

This Biography Written By 7infi.com

 

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