今年的诺贝尔经济学奖分别授给两位美国教授,一位是哈佛大学的默顿教授,一位是斯坦福大学的绍勒斯教授。评选诺贝尔经济学奖的瑞典皇家科学院宣布,这两位教授和已经去世的美国经济学家布莱特教授共同研究出一种确定衍生金融工具价格的新方法,在资产定价尤其是期权定价理论方面做出了杰出的贡献。衍生金融工具也有人称之为金融衍生体或者衍生证券,这种计算工具本身不是独立存在的有价证券,其价值依附于股票、外币和其它有价证券或者股票指数,因此判断和计算衍生金融工具的价格是十分复杂的。绍勒斯教授起初同布莱特教授共同研究拟定出一种计算衍生金融工具价格的公式,1973年在《政治经济》杂志上发表,这个公式被称做“布莱特—绍勒斯公式”。后来默顿教授又发明了另外一种方法,进一步发展了这个公式,使它的用途更加广泛。目前,每天有成千上万的股票交易者采用这个公式,作为计算股票选择权价格的依据,股票选择权也称做认股权或者股票期权或者期权定 This year’s Nobel Prize for Economics was awarded to two American professors, one is Professor Merton at Harvard University and the other is Professor Saulers at Stanford University. The Royal Swedish Academy of Sciences, which honors the Nobel Prize for Economics, announced that both professors and Professor Brett, the American economist who has died, have worked together to develop a new method of determining the price of derivative financial instruments in the area of ​​asset pricing, and in particular option pricing theory Made an outstanding contribution. Derivative financial instruments are also referred to as financial derivatives or derivative securities. Such calculation instruments are not themselves independent securities. Their value is dependent on stocks, foreign currencies, and other securities or stock indices. Therefore, the judgment and calculation of derivative financial instruments The price is very complicated. Professor Saulers initially worked with Professor Breit to develop a formula for calculating the price of derivative financial instruments, published in the Journal of Political Economy in 1973. This formula is called the “Brett-Shawles formula” . Later, Professor Merton invented another method to further develop this formula to make it more versatile. Currently, thousands of stock traders use this formula every day as a basis for calculating the price of stock options, which are also called stock options or stock options or options