Tagged: economia

In 1973, three brilliant economists, Fischer Black, Myron Scholes, and Robert Merton, discovered a mathematical Holy Grail that revolutionized modern finance. The elegant formula they unleashed upon the world was sparse and deceptively simple, yet it led to the creation of a multi-trillion dollar industry. Their bold ideas earned Scholes and Merton a Nobel Prize (Black died before the prize was awarded) and attracted the elite of Wall Street.

In 1993, Scholes and Merton joined forces … Ler mais

This is the extraordinary story of a beautiful mathematical formula that changed the world, the financial markets, and indeed capitalism itself. It could do the unthinkable – it took the risk out of playing the money-markets. To its inventors it brought the Nobel Prize for economics. To those who used it, it brought great wealth. But this glittering tale would end in tragedy.

The Black Scholes formula was invented 25 years ago, by three young mathematicians. They had been … Ler mais