Robert C. Merton
Robert C. Merton
Robert Cox Mertonis an American economist, Nobel laureate in Economics, and professor at the MIT Sloan School of Management, known for his pioneering contributions to continuous-time finance, especially the first continuous-time option pricing model, the Black–Scholes formula...
NationalityAmerican
ProfessionEconomist
Date of Birth31 July 1944
CountryUnited States of America
continuous dynamic exposure limit offset option perfect prescribed principal provide theory trading
My principal contribution to the Black-Scholes option-pricing theory was to show that the dynamic trading strategy prescribed by Black and Scholes to offset the risk exposure of an option would provide a perfect hedge in the limit of continuous trading.