Myron Scholes

Myron Samuel Scholes (born July 1, 1941) is a Canadian-born American financial economist who is best known as one of the authors of the Black–Scholes equation. In 1997 he 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. Myron Scholes was born on July 1, 1941 in Timmins, Ontario, where his family had moved during the Great Depression. In 1951 the family moved to Hamilton, Ontario. Scholes was a good student, although fighting with impaired vision starting with his teens until finally getting an operation when he was twenty-six. Through his family,...