Fischer Black

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Fischer Black
Fischer Black.JPG
Occupation Economist

Fischer S. Black, born on January 11, 1938, was an 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, Black was inducted into the Futures Industry Association's 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[edit]

Black received a Ph.D. in applied math from Harvard University in 1964.

References[edit]