Origins & Early Life

Robert Cox Merton (born July 31, 1944) is an American economist, Nobel Memorial Prize in Economic Sciences laureate, and professor at the MIT Sloan School of Management. He is best known for his pioneering contributions to continuous-time finance, particularly the first continuous-time option pricing model, the Black–Scholes–Merton model. In 1997, Merton and Myron Scholes were jointly awarded the Bank of Sweden Prize in Economic Sciences in Memory of Alfred Nobel for developing a method to determine the value of derivative securities. Merton was on the board of directors of Long-Term Capital Management (LTCM), a highly leveraged hedge fund that collapsed in 1998, wiping out most of the value paid in by the investors, and requiring a $3.6 billion bailout from a group of 14 banks, in a deal brokered and put together by the Federal Reserve Bank of New York.

Pivotal Works & Achievements

Merton's current research focus is on the topics of lifecycle investing and retirement funding, measuring and monitoring systemic risks in macrofinance, and financial innovation coupled with changing dynamics in financial institutions. Merton was born in New York City to sociologist Robert K. Merton and...

Enduring Legacy & Impact

The historical impact and works continue to influence the modern world.

Contemporary Figures & Related Historical Timelines

• Aimee Semple McPherson — Contemporary (Died in 1944) (1944): Pioneering Pentecostal evangelist, famous for founding the Foursquare Church.
• Alan Parker — Contemporary (Born in 1944) (1944): Acclaimed English filmmaker known for genre versatility and numerous BAFTA and Golden Globe wins.
• Ali Sayad Shirazi — Contemporary (Born in 1944) (1944): Key Iranian military commander during the Iran-Iraq War, assassinated in 1999.
• Alessandro Algardi — Shared historical date (07-31 · Born) (1598): Master of High-Baroque Sculpture, renowned for his portrait busts in Rome.
• Barbara Gittings — Shared historical date (07-31 · Born) (1932): Pioneering LGBTQ activist and librarian who fought for visibility and rights.
• Alice Walker — Historical peer (Born in 1944) (1944): Pioneering voice in American literature, activist for civil rights and womanism.
• Arthur Eddington — Historical peer (Died in 1944) (1944): Pioneering astrophysicist known for general relativity confirmations and stellar energy theories.
• Allen Ginsberg — Historical peer (Died in 1997) (1997): Pioneering American poet, central figure of the Beat Generation, known for 'Howl'.
• Amos Tutuola — Historical peer (Died in 1997) (1997): Pioneering Nigerian author blending Yoruba folklore with modern literary forms.
• Aitana Bonmatí — Historical peer (Born in 1998) (1998): Star Spanish midfielder known for her decorated career with Barcelona and the Spain national team.
• 1944 Historical Timeline & Archive — Explore world events and figures from 1944
• July 31 (07-31) On This Day — Historical birthdays and events on July 31