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"Nobel Prize in Economics: Wall Street Rocket Science in a Pocket Calculator." Scientific American, January 1998, page 18.
This brief article describes the work for which economists Robert C. Merton and Myron S. Scholes received the 1997 Nobel Prize in Economics. The centerpiece of the work is the Black-Scholes options pricing model, a mathematical equation for pricing financial derivatives. The equation was developed by Scholes and his now-deceased collaborator Fischer Black.
--- Allyn Jackson
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