Myron Scholes predicts 'golden age' for quants
Top quant sees bright future for mathematical finance as it tackles problems thrown up by the crisis
A top quantitative analyst and economics Nobel laureate says the coming years will be a "golden age" for financial modelling as it tackles problems highlighted by the global financial crisis – particularly relating to liquidity, intermediation and the role of the state.
Myron Scholes, emeritus professor of finance at Stanford University and co-creator of the Black-Scholes option pricing formula, says that because the fundamental assumptions of dominant pre-crisis theory have been challenged
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