Nobel Prizes and Laureates

Nobel Prizes and Laureates

The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 1997
Robert C. Merton, Myron S. Scholes

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Interview, August 2008

Interview with Myron S. Scholes at the 3rd Meeting in Economic Sciences in Lindau, Germany, 22 August, 2008. The interviewer is Adam Smith, Editor-in-Chief of

Myron Scholes discusses the concomitant benefits of having poor eyesight as a child, the importance of reading the classics (6:36), the view that led to his choice of PhD topics (8:22), the necessary cross-pollenization of theorists and empirical economists (13:16), and the option pricing model he helped devise while working as an assistant professor at MIT (16:39). He then explains how this model was accepted among practitioners before academics (27:15), why communication and perturbation are essential to scientific research (36:12), why he retired from teaching (43:29) and why "risk is fine" (50:01).

See a Video of the Interview
52 min.
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MLA style: "Myron S. Scholes - Interview". Nobel Media AB 2014. Web. 30 Nov 2015. <>