Frank E. Buck Professor of Finance, Emeritus, Stanford University 1997 Nobel Laureate in Economics
Myron S. Scholes is the Frank E. Buck Professor of Finance, Emeritus, at the Stanford Graduate School of Business, Nobel Laureate in Economic Sciences,and co-originator of the Black-Scholes options pricing model. Professor Scholes is currently the Chairman of the Board of Economic Advisers of Stamos Partners. Previously he has served as Chairman and member of the Board of Directors of various financial institutions, mostly in mutual funds and capital management corporations. Other positions Professor Scholes has held include the Edward Eagle Brown Professor of Finance at University of Chicago, Senior Research Fellow at the Hoover Institution, and Professor of Finance at MIT’s Sloan School of Management. Professor Scholes received his BA in Economics from McMaster University in Ontario in 1961, and both his MBA and PhD in
Economics from the University of Chicago in 1964 and 1969, respectively.
Professor Scholes was an associate professor at the Massachusetts Institute of Technology from 1968 to 1973. After that, he became an associate professor at the University of Chicago from 1973 to 1983 and later moved to Stanford
University in 1983, becoming a professor emeritus there since 1996.
Professor Scholes’ research mainly focuses on understanding uncertainty and its effect on asset prices and the value of options. He has also studied the effects of taxation on asset prices and incentives. Additionally, after writing several
articles on investment banking and incentives, he developed a new theory of tax planning under uncertainty and information asymmetry which led to a book with Mark A. Wolfson called Taxes and Business Strategies: A Planning
Approach (Prentice Hall, 1991).
Professor Scholes was awarded the 1997 Nobel Prize in Economic Sciences with Professor Robert C. Merton from Harvard University for their “new method to determine the value of derivatives”.