Myron S. Scholes (born July 1, 1941) is one of the authors of the famous Black-Scholes equation. In 1997 he was awarded The Bank of Sweden Prize in Economic Sciences for "a new method to determine the value of derivatives."
He was born in Timmins, Ontario, Canada.
He earned a Bachelor's degree from McMaster University in Canada in 1962. At the University of Chicago, he earned an MBA in 1964 and a Ph.D. in 1969. He co-founded the ill-fated Long Term Capital Management in 1994. He is currently a professor at Stanford University and has also been on the faculty at the MIT Sloan School of Management.
