Fischer Black

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Fischer Black
Fischer Black.JPG
Occupation Economist

The late Fischer Black, born on January 11, 1938 is a former economist. He died August 30, 1995.

He was a student of Marvin Minsky, American cognitive scientist in the field of artificial intelligence, and worked on problems in artificial intelligence. In 1971 he began to work at the University of Chicago. He later left the University of Chicago to work at the MIT Sloan School of Management. In 1984 he joined Goldman Sachs.

On March 12, 2009 he was inducted into the Futures Hall of Fame, which was established in 2005 to commemorate outstanding contributions to the global futures and options community.[1]

The Black-Scholes Model, a tool for equity options pricing, was first discovered in 1973 by Black and Myron Scholes, and then further developed by Robert Merton. It was for the development of the Black-Scholes Model that Scholes and Merton received the Nobel Prize of Economics in 1997 (Black died two years earlier).

Education

Black received a Ph.D. in Applied Math from Harvard University in 1964.

References

  1. FIA Announces Inductees to Futures Hall of Fame. Futures Industry Association.