Conference on Financial Innovation
October 16-17, 2008
Few studies in financial economics have had the ground-breaking influence of “The Pricing of Options and Corporate Liablilities” by Fischer Black and Myron Scholes and “The Theory of Rational Option Pricing” by Robert C. Merton. Published in 1973, a time when options were specialized and economically insignificant securities, these works underlie almost every facet of the theory and practice of modern-day finance, including sparking the growth of the derivatives industry whose notional value exceeds $600 trillion. By bringing together leading academics and practitioners, the Conference on Financial Innovation: 35 Years of Black/Scholes and Merton celebrates their foundational work and provides an open forum for discussion of new ideas about derivatives contracts and contract markets. The Financial Market Research Center at Vanderbilt University’s Owen Graduate School of Management, together with its conference sponsors, are proud to honor the pioneering studies of Black, Scholes, and Merton on the 35th anniversary of their publication. Conference participation is by invitation only.