Monday, March 20, 2017

Stephen Ross, R.I.P. (optional)

All finance majors (and most economics majors) should learn about Stephen Ross’ contributions to the field.

He has been on everyone’s short list for a Nobel Prize for years. They are not awarded posthumously, and he passed away suddenly last week.

He did not have a homepage on Google Scholar, but if you search for him you’ll come up with this list of top cited papers. For comparison purposes, at SUU a few thousand cites in your career across all your publications makes you a top researcher in our School of Business. Ross had over a dozen papers that had more than a thousand citations each.

You may have been or will be exposed to Ross’ contributions in Haslem’s FIN 4250 class or FIN 6100. Option pricing using binomials is a topic I covered when I taught each of those classes. Arbitrage pricing theory is something that I helped a lot of students with at my previous school. And the paper by Cox, Ingersoll, and Ross is a big crossover into the macroeconomics taught in graduate programs.

Here’s the obituaries from the Wall Street Journal and The New York Times.

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