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1 (of 3) Robert C. Merton receiving his Prize from the hands of His Majesty the King.

Copyright © Pica Pressfoto AB 1997, S-105 17 Stockholm, Sweden, telephone: +46-8-13 52 40 Photo: Jonas Ekströmer

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2 (of 3) All 1997 Nobel Laureates on the Stockholm Concert Hall stage. Economics Laureate Myron S. Scholes is first from right.

© Pressens Bild AB, 1997 S-112 88 Stockholm, Sweden, telephone: +46 (0)8 738 38 00. Photo: Ola Torkelsson

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3 (of 3) A view of the Nobel Prize Award Ceremony at the Stockholm Concert Hall, 10 December 1997.

© Pica Pressfoto AB 1997, S-105 17 Stockholm, Sweden, telephone: +46-8-13 52 40. Photo: Ulf Palm