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	Myron Scholes, double alumnus and former faculty member, shares 1997 Nobel Prize in economics
		Myron Scholes, who shares the 1997 Nobel Memorial Prize in Economic Sciences, is a double alumnus of the University of Chicago, having earned both his M.B.A. (1964) and Ph.D. (1970) degrees from the University’s Graduate School of Business, where he was later a faculty member for 10 years.
		Scholes is the 69th Nobel laureate to have studied or taught at the University of Chicago.
		Scholes is being honored for having developed a pioneering formula for the valuation of stock options, an important mechanism for managing risk in financial markets.
	www-news.uchicago.edu /releases/97/971014.scholes.nobel.shtml (1054 words)

	McMaster Alumni Association - Myron Scholes
		SCHOLES, MYRON S. yron Scholes acquired an M.B.A. (Finance) in 1962 and a Ph.D. (Finance) in 1969 from the University of Chicago.
		From 1968 to 1973, Myron was an assistant profesor and then associate professor at the Massachusettes Institute of Technology.
		Scholes is most noted for being the co-ordinator of the famed Black-Scholes Options Pricing Model, a building block of modern finance.
	www.mcmaster.ca /ua/alumni/gallery/G215977.htm (189 words)

	1997 Nobel Economics Laureate Myron Scholes to Speak at Rotman School of Management March 26, Canadian Expert on ...
		Scholes, the Frank E. Buck Professor, Emeritus, at the Stanford University Graduate School of Business, was awarded the Nobel Prize for developing a new method to determine the value of derivatives.
		Scholes, a native of Timmins, Ontario, graduated from McMaster University in 1961 before completing his MBA and Ph.D. at the University of Chicago.
		Scholes is also known for his work on the effects of global tax policies on decision making.
	www.news.utoronto.ca /bin/19980317.asp (609 words)

	Headlines - Stanford Business School's Spence Wins Nobel Prize in Economics - Stanford GSB
		Scholes was Frank E. Buck Professor of Finance at the GSB from 1983 to 1996.
		On learning of Scholes' award, Wolfson said: "The pioneering efforts of Black, Merton, and Scholes in the field of option pricing have had an explosive impact on both the theory and practice of financial markets, rivaling in significance all preceding contributions to financial theory.
		For Scholes, who was just beginning a nonstop series of print, radio, and television interviews, the changes had already begun.
	www.gsb.stanford.edu /news/headlines/scholes_nobel.shtml (859 words)

	Myron Scholes
		Myron Scholes was born on July 1, 1941, in Timmins, Ontario, Canada.
		This year's laureates, Robert Merton and Myron Scholes, developed this method in close collaboration with Fischer Black, who died in his mid-fifties in 1995.
		Black, Merton and Scholes made a vital contribution by showing that it is in fact not necessary to use any risk premium when valuing an option.
	www.jewishvirtuallibrary.org /jsource/biography/scholes.html (1089 words)

	Record: Nobel Prize-winning economist Myron Scholes lectures April 8
		Myron S. Scholes, world-renowned financial economist and co-recipient of the 1997 Nobel Prize in Economic Science, will speak on "Financial Innovation in a Chaotic Environment" at 11:30 a.m.
		Scholes, the Frank E. Buck Professor of Finance Emeritus at Stanford University, authored the "Black-Scholes Options Pricing Model," which some describe as the economics equivalent of Einstein's Theory of Relativity.
		Scholes won the Nobel for work on a new method of determining the value of derivatives.
	record.wustl.edu /news/page/normal/818.html (133 words)

	GSB news—Nobel Laureate Myron Scholes Speaks to Students About Investing
		Speculative investing combines a microeconomic understanding of why models indicate a particular inventory is cheap with a macroeconomic understanding that it might be a long—or short—time before the inventory is turned over, said Myron Scholes, MBA ’64, PhD ’70, chairman of Oak Hill Platinum Partners, a private equity partnership.
		Scholes used the analogy of his grandson making a sandcastle on the beach to dispel the notion that today’s economy is tame.
		Scholes is known for his work in options pricing, capital markets, tax policies, and the financial services industry.
	www.chicagogsb.edu /news/2006-03-09_scholes.aspx (476 words)

	PEN-L message, Myron Scholes' day in court
		So Dr. Scholes arranged to lend them millions of dollars at an interest rate of 7 percent, which, contrary to usual banking practice, was lower that the rate he could have gotten from most clients.
		Scholes confirmed that he had, but that it had been paid in extra partnership shares, not cash.
		Scholes was visibly shaken, his head cast down so that no one could see directly into his eyes as he and his wife slipped into an anteroom and shut the door.
	archives.econ.utah.edu /archives/pen-l/2003w44/msg00099.htm (2548 words)

	Scholes and Merton Win Nobel Prize
		It is very pleasant, however." Scholes, who is also an expert on taxation, noted that he had a "third partner the U.S. government," and that "Stockholm is a very expensive city" to take his family for the December presentation of the prize.
		Scholes was in Pebble Beach to play golf and give a speech when he first heard he had won the prize in an early morning phone call from his brother David in New York, who heard it on his car radio on his way to work.
		Scholes was surprised, he said, to see how quickly traders on the Chicago options market applied the model and Texas Instruments incorporated it into one of its calculators.
	www.fenews.com /fen2/nobel.htm (749 words)

	Online NewsHour: Nobel Prize for Economics -- October 14, 1997
		MYRON SCHOLES, Nobel Laureate, Economics: Yes and no. Given the fact that over the last number of years and friends keep saying when are you going to win the Nobel Prize, and as a result of that, you think of it as, well, maybe they know something I don't know.
		MYRON SCHOLES: Well, it was sort of a combination of both because, as you know, Fisher Black, late colleague in Boston, MIT area, and I were working on some consulting projects together, and in our spare time we started to work on the pricing of options.
		MYRON SCHOLES: Well, it's very interesting, but at the time we were working on options, they were very arcane.
	www.pbs.org /newshour/bb/business/july-dec97/nobel_10-14.html (1641 words)

	Profile: Myron S. Scholes
		Scholes became interested in the problem of derivatives while a Ph.D. student at the University of Chicago.
		The central motivation for Scholes was the economic question of studying the efficiency frontier of portfolios --- how to construct baskets of assets with optimal trade-offs between risk and return, and in particular what happened in the limit of riskless portfolios.
		An expert for the other side presented a convincing-looking regression analysis to back up their claims; Scholes, however, noticed that the print-out said "run 89", and an examination of the other 88 runs quickly undermined the credibility of the favorable regression.
	cscs.umich.edu /~crshalizi/bulletin/QF-Scholes.html (1457 words)

	BLACK - SCHOLES -- OPTION PRICING MODELS (Site not responding. Last check: 2007-10-20)
		Soon after this discovery, Myron Scholes joined Black and the result of their work is a startlingly accurate option pricing model.
		Black and Scholes can't take all credit for their work, in fact their model is actually an improved version of a previous model developed by A. James Boness in his Ph.D. dissertation at the University of Chicago.
		Black and Scholes' improvements on the Boness model come in the form of a proof that the risk-free interest rate is the correct discount factor, and with the absence of assumptions regarding investor's risk preferences.
	bradley.bradley.edu /~arr/bsm/pg04.html (652 words)

	Myron Scholes
		Myron S. Scholes (born 1941) is one of the authors of the famous Black-Scholes equation.
		In 1997 he was awarded the The Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel for "a new method to determine the value of derivatives."
		Noble e-Museum - Autobiography of Myron S. Scholes (http://www.nobel.se/economics/laureates/1997/scholes-autobio.html)
	www.ebroadcast.com.au /lookup/encyclopedia/my/Myron_S._Scholes.html (53 words)

	Scholes Myron S - Search Results - MSN Encarta (Site not responding. Last check: 2007-10-20)
		Scholes Myron S - Search Results - MSN Encarta
		Scholes, Myron S. Scholes, Myron S., born in 1941, Canadian-born American economist, awarded the 1997 Nobel Prize in economics for arriving at a new way to determine...
		Merton, Robert C. Merton, Robert C., born in 1944, American economist and Nobel Prize winner.
	ca.encarta.msn.com /Scholes_Myron_S.html (103 words)

	The Mathematics Behind the 1997 Nobel Prize in Economics
		The winners were Professor Robert C. Merton, of Harvard University, Cambridge, USA and Professor Myron S. Scholes, of Stanford University, Stanford, USA, for the discovery of "a new method to determine the value of derivatives".
		The work of the three economists in the 70's was a novel and extremely useful application to finance of the deep mathematical theory of stochastic processes that had culminated with the theory of stochastic differential equations (SDE's) less than thirty years before.
		As a byproduct of their deduction, they obtained a ratio for the mix between options and assets so that the resulting mix is hedged against fluctuations in the market price of the asset.
	www.ams.org /featurecolumn/archive/black-scholes-ito.html (1328 words)

	GSB \| Chicago: Scholes Professorship Announced
		WITHIN A WEEK or so after Myron Scholes won the 1997 Nobel Memorial Prize in Economics, a couple of his friends and colleagues approached the GSB seeking to establish a professorship in his name.
		Breeden, a student of Scholes at M.I.T. in 1971, said there were several reasons why Scholes left the Sloan School for the GSB.
		Scholes, the first GSB M.B.A. and Ph.D. graduate to win the Nobel prize, helped make it possible for others to follow in his footsteps.
	chicagogsb.edu /magazine/summer98/Scholes.html (398 words)

	Myron Scholes - Wikipedia, the free encyclopedia
		In 1997 he was awarded the Nobel Memorial Prize in Economics for "a new method to determine the value of derivatives".
		United States, where he attempted to invest funds from his company, Long-Term Capital Holdings, in an illegal tax shelter in order to avoid having to pay taxes on profits from company investments.
		It was found that Scholes and his partners were not eligible for US$106 million in tax deductions they had claimed.
	en.wikipedia.org /wiki/Myron_Scholes (319 words)

	Nobel laureate Myron S. Scholes
		Myron S. Scholes, the Frank E. Buck Professor of Finance, Emeritus; at Stanford's Graduate School of Business 1983-1996.
		Since receiving the prize, Scholes has used his background in options pricing, capital markets, tax policies and the financial services industry as a managing partner for Oak Hill Capital Management.
		Scholes was a principal and limited partner at Long-Term Capital Management, L.P., an investment management firm, from 1993 to 1998.
	news-service.stanford.edu /news/2001/october3/scholes-103.html (160 words)

	Long Term Capital Management
		Myron Scholes stated the objective of LTCM in a striking image.
		Not only did Myron Scholes lend prestige to LTCM from his academic reputation but he was one of the most effective salesmen for LTCM in its quest for investors.
		Myron Scholes summed up the strategy with a metaphor that will last forever.
	www2.sjsu.edu /faculty/watkins/ltcm.htm (2393 words)

	Black-Scholes Option Pricing Formula
		In 1973, Fischer Black and Myron Scholes published their groundbreaking paper the pricing of options and corporate liabilities.
		In the mean time, Black and Scholes had published in the Journal of Finance a more accessible (1972) paper that cited the as-yet unpublished (1973) option pricing formula in an empirical analysis of current options trading.
		It is historically significant as the original option pricing formula published by Black and Scholes in their landmark (1973) paper.
	www.riskglossary.com /articles/black_scholes_1973.htm (534 words)

	Myron S. Scholes at IDEAS
		If you are Myron S. Scholes, you may change this information at RePEc.
		Postal Address: Myron S. Scholes obtained the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel in 1997.
		Scholes, Myron S & Wilson, G Peter & Wolfson, Mark A, 1990.
	ideas.repec.org /e/psc29.html (881 words)

	Derivatives Strategy - April'2000: Myron Scholes’ New Office (Site not responding. Last check: 2007-10-20)
		Don’t tell anybody, but Myron Scholes & Co. is busy hiring traders for a new firm.
		Last April, Scholes was hired as a consultant to Bass’ Oak Hill Partners, which operates a series of private equity partnerships.
		Scholes, however, is probably spending most of his time working from the firm’s Menlo Park, Calif., office.
	www.derivativesstrategy.com /magazine/archive/2000/0400play.asp?print (1861 words)

	SSRN-Who Owns the Assets in a Defined Benefit Pension Plan by Jeremy I. Bulow, Myron Scholes
		The liability to employees in a defined benefit pension plan is the present value of vested benefits, the present value of the benefits that employees would receive on the immediate termination of the pension plan.
		In addition, the model explains the use of defined benefit pension plans, and how employees could have claims, in excess of vested benefits, on the assets in the pension plan.
		Bulow, Jeremy and Scholes, Myron S., "Who Owns the Assets in a Defined Benefit Pension Plan" (July 1982).
	papers.ssrn.com /sol3/papers.cfm?abstract_id=226907 (549 words)

	Learn more about Myron Scholes in the online encyclopedia. (Site not responding. Last check: 2007-10-20)
		Learn more about Myron Scholes in the online encyclopedia.
		Hint: Play with putting spaces before and after your words to see the different results you get.
		Noble e-Museum - Autobiography of Myron S. Scholes
	www.onlineencyclopedia.org /m/my/myron_scholes.html (150 words)

	Black Scholes
		Invented in 1973 by financial economists Fischer Black and Myron Scholes, this options model will help protect you from losing your shirt in options trading.
		Black died of cancer in 1995 and was not eligible to receive the 1997 Nobel Prize in Economics, which went to his colleague Myron Scholes, among others, in recognition of their revolutionary work in finance.
		According to Black Scholes, the call option is going to move very little in the first few weeks, but then it’s going to PLUNGE way down by 50% to 60% over the next few weeks, and then gradually decline to $0 as the third week in January (the expiration date) approaches.
	www.investmentu.com /IUEL/2006/20060714.html (939 words)

	Baker Library: About the Merton Exhibit
		The work of Robert Merton, Fischer Black and Myron Scholes is the culmination of a series of discoveries and theories spanning the twentieth century.
		The Black and Scholes working papers, along with Merton's own handwritten notes and derivations of the formula, were required reading for students in Merton's finance classes long before they were published.
		The receipt of the Nobel Prize represents both the evolution of an idea and the beginning of endless new avenues for research that have been made possible by the work of Robert Merton, Myron Scholes, and Fischer Black.
	www.library.hbs.edu /hc/exhibits/merton/about.htm (863 words)

	Myron Scholes Winner of the 1997 Nobel Prize in Economics
		Myron Scholes Winner of the 1997 Nobel Prize in Economics
		Nobel laureate Myron S. Scholes (submitted by Jackson)
		Myron S. Scholes Biography from Encyclopedia Briatnnica (submitted by www.britannica.com)
	www.nobelprizes.com /nobel/economics/1997b.html (340 words)

	Black-Scholes European Option Pricing
		Fischer Black and Myron Scholes are 2 economist, who in 1973 published a paper which redefined finance and derivatives, with "The Pricing of Options and Corporate Liabilities" featured in the Journal of Political Economy in May of that year.
		The piece is arguably one of the most important papers within finance theory to date and allows us to price various derivatives, including options on commodities, financial assets and even pricing of employee stock options.
		The Black-Scholes model today is used in everyday pricing of options and futures and almost all formulas for pricing of exotic options such as barriers, compounds and asian options take their foundation from the Black-Scholes model.
	www.global-derivatives.com /options/black-scholes.php (463 words)

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