Nobelpristagerforelæsning

Robert C. Merton

Robert Merton

Macro financial systemic risk poses an enormous challenge for both governments and financial institutions. The increasing globalization of the financial system with ever greater connectedness among institutions and sovereigns, while surely a positive for economic development and growth, does increase the potential impact of systemic risk propagation across geopolitical borders, making its control and repairing the damage caused a more complex and longer process. As we have seen, the impact of realized systemic risk can be devastating for entire economies. 

Professor Robert C. Merton was awarded the Nobel Memorial Prize in Economic Sciences in 1997 together with Myron Scholes for their new method for pricing derivative contracts. The most famous result of this method is the Black-Scholes-Merton formula for pricing the value of an option on a stock. The methodology has been instrumental for the development of modern derivatives markets.  In contemporaneous work, Merton laid the foundation for continuous-time finance with his seminal contributions in capital asset pricing theory, dynamic portfolio choice and the pricing of risky debt. 


2. okt 2014

16.00-18.00

  • Sted:

    Det Kgl. Bibliotek
    H.C. Andersens Boulevard 35
    1405  København

  • Arrangement:

    Nobel Laureate Lectures

  • Pris:

    gratis

se foredraget

Spørgsmål

  • Eva Bang-Hansen
  • ebh@royalacademy.dk