Myron Scholes
Myron Scholes received the 1997 prize in Economic Sciences. This profile brings together the official award record and attributed background on the economist’s work and career.
Personal and professional profile
- Name
- Myron Scholes [1]
- Full name
- Myron S. Scholes [2]
- Birth date
- 1941-07-01 [2]
- Birthplace
- Timmins, ON, Canada [2]
- Education
- University of Chicago; McMaster University; Westdale Secondary School [3]
- Fields / occupation
- mathematician; economist; researcher [3]
- Prize
- Economic Sciences · 1997 [2]
- Research recognized
- for a new method to determine the value of derivatives [2]
- Prize share
- 1/2 [2]
- Affiliation at the award
- Long Term Capital Management [2]
- Institutions in career record
- Massachusetts Institute of Technology; Stanford University; University of Chicago; Long-Term Capital Management; MIT Sloan School of Management; Salomon Brothers [3]
Research, education and career background
Myron Samuel Scholes ( SHOHLZ; 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 Chief Investment Strategist at Janus Henderson. 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, chairman of the Board of Economic Advisers of Stamos Capital Partners, 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. [4]
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. [4]
Selected introductory text by Wikipedia contributors — Myron Scholes, under CC BY-SA 4.0. Official facts are cited separately.
Award and academic affiliation
The official Nobel record dates the Economic Sciences award to 1997 and lists Long Term Capital Management as the affiliation at the time. [2]
An affiliation attached to an award describes that point in the person’s career; it does not establish a current appointment. [2]
Education and career timeline
Source-supported connections
Frequently asked questions
When did Myron Scholes receive the prize in Economic Sciences?
The official award record gives the year as 1997. [2]
Which institution was Myron Scholes affiliated with at the time of the Economic Sciences award?
Long Term Capital Management. This is the award-time affiliation. [2]
Myron Scholes connection map
Select a node to inspect the relationship and source.
Links retain their source-specific meaning. Award-time affiliations and links to related reading are not claims about current appointments or economic causation.
Sources and review dates
- Nobel Prize — official biography and award record ↗
- Nobel Prize — official biography and award record ↗
- Wikidata background facts (CC0) ↗
- Wikipedia contributors — Myron Scholes (CC BY-SA 4.0) ↗
Reviewed 23 October 2026. Historical dates and award-time affiliations retain their original context. A review date is not an event date. Background sources are identified separately from official records.