Black and Scholes Publish The Pricing of Options and Corporate Liabilities
The University of Chicago, 5801, South Ellis Avenue, Hyde Park, Chicago, Hyde Park Township, Cook County, Illinois, 60637, United States
University of Chicago
GESCHÄTZT72 % SICHERHEITThe paper's own front matter gives a two-month issue and no day: "The Journal of Political Economy, Vol. 81, No. 3 (May - Jun., 1973), pp. 637-654". With only an issue window, the pin takes its last day rather than its first.[1]
Fischer Black and Myron Scholes give a closed-form price for a European option in the Journal of Political Economy, in the same year the Chicago Board Options Exchange opens. The formula becomes the language of the derivatives market.
1.00