Fischer Black and Myron Scholes first published their formula for valuing an option in 1973. Robert Merton independently derived an alternative method for valuing options in 1973 as well. The availability of the Black and Scholes formula for valuing options has helped the options market to grow rapidly.
|Date of Scout Publication||1997-10-23|
|Archived Scout Publication URL||https://scout.wisc.edu/report/be/1997/1023|
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