Golden jubilee for an iconic financial formula
Fifty years ago, an equation called the Black–Scholes formula revolutionized finance, leading to a rapid growth of markets and stimulating quantitatively oriented minds. But, with time, its simplicity became a liability — and yet its legacy persists.
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| Format: | Journal article |
| Sprache: | English |
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Springer Nature
2023
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| Zusammenfassung: | Fifty years ago, an equation called the Black–Scholes formula revolutionized finance, leading to a rapid growth of markets and stimulating quantitatively oriented minds. But, with time, its simplicity became a liability — and yet its legacy persists. |
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