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Professor Wants Pairs' 1997 Nobel Revoked

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Professor Wants Pairs' 1997 Nobel Revoked

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Professor Wants Pairs' 1997 Nobel Revoked

Professor Wants Pairs' 1997 Nobel Revoked

  • Download
  • <iframe src="https://www.npr.org/player/embed/95664742/95664720" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

Economists Robert Merton and Myron Scholes won the 1997 Nobel Prize in economics. Their formula for evaluating stock options laid the ground work for risk-management in modern financial markets. Nasim Taleb, a professor at New York University and a hedge fund owner, wants their prize revoked. Taleb tells Renee Montagne that their formula doesn't work.

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