Date: Tue, 14 Oct 1997 12:14:21 -0400 (EDT)
From: Siddharth Chatterjee <siddhart-AT-mailbox.syr.edu>
Subject: M-I: Nobel Prize - Economics




---------- Forwarded message ----------

Americans continued their domination of the Nobel Prize for economics today
when Robert Merton of Harvard and Myron Scholes of Stanford won the award.
Merton and Scholes were honored developing the formula that laid the
foundation for massive growth of markets in financial derivatives in the past
decade. The Royal Swedish Academy of Sciences says their work led to new
types of investments and more efficient risk management. Merton, Scholes and
the late Fischer Black developed a method for correctly pricing derivatives.
Black died of throat cancer in 1995



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