Black-Scholes/Merton 40

October 2 - 3, 2013 | McGovern Auditorium
9 Cambridge Center, Cambridge, MA

Welcome!

The MIT Sloan School of Management and the Annual Review of Financial Economics are hosting a conference celebrating the 40th Anniversary of the Black-Scholes-Merton Option Pricing Model. The conference will be held over two days. The first day will consist of three panel discussions focused on derivatives followed by a fireside chat with Myron Scholes and Robert C. Merton. The second day will consist of presentations and discussions on papers recently published in the Annual Review of Financial Economics.

Registration Closed

The Black-Scholes-Merton Model

2013 marks the 40th anniversary of the publication of the pioneering articles on pricing options and other derivatives by Black and Scholes (1973) and Merton (1973), for which Merton and Scholes were awarded the Nobel Prize in Economics in 1997. In the modern history of all the social sciences, few ideas have had more impact on both theory and practice in such a short time span. These two publications launched well over two thousand others, and also served as the intellectual foundation for at least three multi-trillion-dollar industries—exchange-traded options, over-the-counter structured products, and credit derivatives. Generalizations of Black and Scholes (1973) and Merton (1973) now span a huge spectrum of applications including swaps, insurance, real options, corporate finance, real estate, and macroprudential policy and systemic risk management. These contributions made a tremendous impact on modern finance by establishing finance as a science and as a field of engineering.

The MIT Sloan School of Management

The MIT Sloan School of Management, based in Cambridge, Massachusetts, is one of the world's leading business schools — conducting cutting-edge research and providing management education to top students from more than 60 countries. The School is part of MIT's rich intellectual tradition of education and research. Click to learn more about the MIT Sloan Finance Group

The Annual Review of Financial Economics

The Annual Review of Financial Economics provides comprehensive, forward-looking, and critical reviews of the most significant theoretical, empirical, and experimental developments in financial economics, including the fields of capital markets, corporate finance, financial institutions, market microstructure, and behavioral and experimental finance. Click to learn more about the Annual Review of Financial Economics