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Robert C. Merton, born on July 31, 1944, in New York City, is an American economist. He is known for his work on the Black-Scholes model and has contributed to various areas of economics and finance, including the Black-Scholes-Merton model and the Merton model among others.
Merton received his education from several institutions, including the California Institute of Technology, the Massachusetts Institute of Technology, the Fu Foundation School of Engineering and Applied Science, and Harvard Business School. His doctoral advisor was Paul Samuelson.
During his career, Merton has guided several doctoral students who have gone on to make their mark in economics and finance, such as Mark Latham, Jonathan E. Ingersoll, Marshall Goldman, and Eric Rosenfeld.
In recognition of his contributions to the field, Merton was awarded the 1997 Nobel Memorial Prize in Economic Sciences. He was born to Robert K. Merton, a prominent sociologist, and carries an alias Robert Carhart Merton.
