Myron Scholes

Myron Scholes
Scholes in 2008
Born	Myron Samuel Scholes (1941-07-01) July 1, 1941 (age 82) Timmins, Ontario, Canada
Nationality	Canada, United States
Academic career
Field	Financial economics
School or tradition	Chicago school of economics
Alma mater	McMaster University (BA) University of Chicago (MBA, PhD)
Doctoral advisor	Eugene Fama Merton Miller
Influences	George Stigler, Milton Friedman
Contributions	Black–Scholes model
Awards	Nobel Memorial Prize in Economics (1997)
Information at IDEAS / RePEc

Myron Samuel Scholes (/ʃoʊlz/ SHOHLZ;^[1] born July 1, 1941) is a Canadian–American financial economist. Scholes is the Frank E. Buck Professor of Finance, Emeritus, at the Stanford Graduate School of Business, Nobel Laureate in Economic Sciences, and co-originator of the Black–Scholes options pricing model. Scholes is currently the chairman of the Board of Economic Advisers of Stamos Capital Partners. Previously he served as the chairman of Platinum Grove Asset Management and on the Dimensional Fund Advisors board of directors, American Century Mutual Fund board of directors and the Cutwater Advisory Board. He was a principal and limited partner at Long-Term Capital Management (LTCM), a highly leveraged hedge fund that collapsed in 1998, and a managing director at Salomon Brothers. Other positions Scholes held include the Edward Eagle Brown Professor of Finance at the University of Chicago, senior research fellow at the Hoover Institution, director of the Center for Research in Security Prices, and professor of finance at MIT's Sloan School of Management. Scholes earned his PhD at the University of Chicago.

In 1997, Scholes – together with Robert C. Merton – was awarded the Nobel Memorial Prize in Economic Sciences for a method to determine the value of derivatives. The model provides a conceptual framework for valuing options, such as calls or puts, and is referred to as the Black–Scholes model.