Robert C. Merton | Academic Influence

Why Is Robert C. Merton Influential?

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According to Wikipedia, Robert Cox Merton is an American economist, Nobel Memorial Prize in Economic Sciences laureate, and professor at the MIT Sloan School of Management, known for his pioneering contributions to continuous-time finance, especially the first continuous-time option pricing model, the Black–Scholes–Merton model. In 1993 Merton co-founded hedge fund Long-Term Capital Management.

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Robert C. Merton's Published Works

Number of citations in a given year to any of this author's works

Total number of citations to an author for the works they published in a given year. This highlights publication of the most important work(s) by the author

Published Papers

AN INTERTEMPORAL CAPITAL ASSET PRICING MODEL (1973) (5975)
On the Pricing of Corporate Debt: The Risk Structure of Interest Rates (1974) (5835)
Option pricing when underlying stock returns are discontinuous (1976) (5631)
Presidential Address: A simple model of capital market equilibrium with incomplete information (1987) (5363)
Lifetime Portfolio Selection under Uncertainty: The Continuous-Time Case (1969) (4560)
Theory of Rational Option Pricing (2015) (4456)
Optimum Consumption and Portfolio Rules in a Continuous-Time Model* (1975) (3578)
On Estimating the Expected Return on the Market: An Exploratory Investigation (1980) (3035)
Optimum consumption and portfolio rules in a continuous - time model Journal of Economic Theory 3 (1971) (3015)
An analytic derivation of the cost of deposit insurance and loan guarantees An application of modern option pricing theory (1977) (1905)
Continuous-Time Finance (1990) (1430)
Labor Supply Flexibility and Portfolio Choice in a Life-Cycle Model (1992) (1188)
An Analytic Derivation of the Efficient Portfolio Frontier (1972) (900)
On Market Timing and Investment Performance Part II: Statistical Procedures for Evaluating Forecasting Skills (2015) (711)
Dividend variability and variance bounds tests for the rationality of stock market prices (1984) (436)
A Conceptual Framework for Analyzing the Financial Environment (1998) (408)
Financial Innovation and the Management and Regulation of Financial Institutions (1995) (402)
On the Cost of Deposit Insurance When There Are Surveillance Costs (1978) (386)
Samuelson, Paul A. (2010) (380)
Macroeconomics and Finance: the Role of the Stock Market (1984) (369)
THEORY OF RISK CAPITAL IN FINANCIAL FIRMS (1993) (367)
Financial Innovation And Economic Performance (1992) (361)
Applications of Option-Pricing Theory: Twenty-Five Years Later (1997) (350)
An Asymptotic Theory of Growth Under Uncertainty (1975) (323)
On the pricing of contingent claims and the Modigliani-Miller theorem (1977) (291)
The Global Financial System: A Functional Perspective (1995) (231)
A Functional Perspective of Financial Intermediation (1995) (231)
New Framework for Measuring and Managing Macrofinancial Risk and Financial Stability (2007) (218)
On Market Timing and Investment Performance Part I: An Equilibrium Theory of Value for Market Forecasts (2015) (203)
Defined Benefit Versus Defined Contribution Pension Plans: What are the Real Tradeoffs? (1985) (196)
Mark-To-Market Accounting For Banks And Thrifts - Lessons From The Danish Experience (1995) (196)
On the Management of Financial Guarantees (1992) (190)
On the Application of the Continuous-Time Theory of Finance to Financial Intermediation and Insurance (1989) (183)
On the Role of Social Security as a Means for Efficient Risk-Bearing in an Economy Where Human Capital is Not Tradeable (1981) (176)
Systemic Risk and the Refinancing Ratchet Effect (2009) (169)
Do a Firm's Equity Returns Reflect the Risk of its Pension Plan? (2004) (164)
The impact on option pricing of specification error in the underlying stock price returns (2011) (162)
The Role of Contingent Claims Analysis in Corporate Finance (1985) (160)
The Returns and Risk of Alternative Call Option Portfolio Investment Strategies (1978) (155)
The financial system and economic performance (1990) (155)
On the current state of the stock market rationality hypothesis (1985) (150)
A Complete Model of Warrant Pricing that Maximizes Utility (1969) (129)
THE RELATIONSHIP BETWEEN PUT AND CALL OPTION PRICES: COMMENT (1973) (110)
Theory of Finance from the Perspective of Continuous Time (1975) (108)
Deposit insurance reform: a functional approach* (1993) (108)
The crisis in retirement planning (2014) (104)
On the microeconomic theory of investment under uncertainty (1977) (98)
For the last time: stock options are an expense. (2003) (96)
Influence of mathematical models in finance on practice: past, present and future (1994) (93)
The Returns and Risks of Alternative Put-Option Portfolio Investment Strategies (1982) (91)
A New Framework for Analyzing and Managing Macrofinancial Risks of an Economy (2006) (88)
Pension Benefit Guarantees in the United States: A Functional Analysis (1993) (82)
Dividend Behavior for the Aggregate Stock Market (2015) (77)
Thoughts on the Future: Theory and Practice in Investment Management (2003) (72)
International Pension Swaps (2002) (71)
On Consumption-Indexed Public Pension Plans (1982) (69)
Financial Aspects of the United States Pension System: On the Role of Social Security as a Means for Efficient Risk Sharing in an Economy Where Human Capital Is Not Tradable (1983) (67)
An application of modern option pricing theory (1977) (65)
Fallacy of the Log-normal Approximation to Optimal Portfolio Decision-making Over Many Periods (2017) (62)
The Value of Implicit Guarantees (2012) (47)
Pension Plan Integration as Insurance Against Social Security Risk (1984) (45)
Trust in Lending (2018) (44)
A Model of Contract Guarantees for Credit-Sensitive, Opaque Financial Intermediaries' (1997) (40)
Transparency, Risk Management and International Financial Fragility (2003) (38)
Future Possibilities in Finance Theory and Finance Practice (2002) (38)
Cases in Financial Engineering: Applied Studies of Financial Innovation (1996) (38)
Contingent Claims Approach to Measuring and Managing Sovereign Credit Risk (2007) (37)
GENERALIZED MEAN‐VARIANCE TRADEOFFS FOR BEST PERTURBATION CORRECTIONS TO APPROXIMATE PORTFOLIO DECISIONS (1974) (36)
Capital market theory and the pricing of financial securities (1990) (35)
Customers and Investors: A Framework for Understanding the Evolution of Financial Institutions (2018) (34)
On a New Approach for Analyzing and Managing Macrofinancial Risks (corrected) (2013) (33)
Allocating Shareholder Capital to Pension Plans (2006) (31)
You have more capital than you think. (2005) (31)
INNOVATION RISK: HOW TO MAKE SMARTER DECISIONS (2013) (30)
Management of Risk Capital in Financial Firms (1993) (27)
Financial Infrastructure and Public Policy: A Functional Perspective (1998) (26)
THE RISK STRUCTURE OF INTEREST RATES (1973) (23)
Aggregate dividend behavior and its implications for tests of stock market rationality (1983) (21)
Paul Samuelson and Financial Economics (2006) (20)
The Collected Scientific Papers of Paul A. Samuelson. (1975) (19)
The Informational Role of Asset Prices: The Case of Implied Volatility (1995) (18)
Pension Reform and Privatization in International Perspective: The Case of Israel (1992) (17)
Analytical optimal control theory as applied to stochastic and non-stochastic economics. (1970) (15)
Continuous-time Stochastic Models (1989) (14)
In Honor of Nobel Laureate, Franco Modigliani (1987) (14)
Time for Retirement ‘SeLFIES’? (2017) (14)
Preface to the Annual Review of Financial Economics (2009) (11)
The Optimality of a Competitive Stock Market (2011) (9)
Customers and Investors: A Framework for Understanding Financial Institutions (2015) (9)
Funding retirement: Next generation design (2012) (9)
A Proposal for Expensing Employee Compensatory Stock Options for Financial Reporting Purposes (2005) (8)
A GOLDEN GOLDEN‐RULE FOR WELFARE‐MAXIMIZATION IN AN ECONOMY WITH A VARYING POPULATION GROWTH RATE (1969) (8)
A Framework for the Economic Analysis of Deposit Insurance and Other Guarantees (1992) (8)
Continuous-time portfolio theory and the pricing of contingent claims (1976) (8)
On an Efficient Design of Reverse Mortgages: A Possible Solution for Aging Asian Populations (2016) (6)
Sovereign Default Risk and the U . S . Equity Market (2010) (6)
On the Efficient Design of the Reverse Mortgage: Structure, Marketing, and Funding (2016) (6)
On the Mathematics and Economic Assumptions of Continuous-time Models (2015) (5)
Measuring and Managing Macrofinancial Risk and Financial Stability: A New Framework (2019) (5)
The "Motionless" Motion of Swift's Flying Island (1966) (5)
The Impact of Derivative Markets on Asset Management and the Economy (2010) (4)
Financial Economics -2/E. (2008) (4)
SeLFIES: A New Pension Bond and Currency for Retirement (2020) (4)
On the Management of Deposit Insurance and Other Guarantees (1992) (4)
The Real Problem with Pensions (2004) (3)
MIT Roundtable on Corporate Risk Management (2008) (3)
The Derivatives Sourcebook (2006) (3)
ADB's Distinguished Speakers Program Measuring the Connectedness of the Financial System: Implications for Risk Management (2014) (3)
Asset Management in Volatile Markets (2008) (3)
Pearson custom business resources : compiled by Financial economics, second edition (2012) (3)
Transparency, Risk Management and International Fragility (2004) (2)
SeLFIES for Portugal - An Innovative Pan European Retirement Solution (2019) (2)
INFLUENCE OF MATHEMATICAL MODELS IN FINANCE ON PRACTICE II . Mathematical Models in Practice : 1970 s and 1980 s (2005) (2)
SeLFIES Can Help Brazil Create a SUPER Supplementary Pension (2020) (2)
Reply to Benston and Kaufman (1993) (2)
Corporate Dividend Dynamics at the Firm Level (1985) (2)
Systemic Risk and the Renancing Ratchet Effect (2011) (2)
No-Fault Default, Chapter 11 Bankruptcy, and Financial Institutions (2020) (2)
The Global Financial System Project (1999) (1)
A Contingent Claims Analysis of the Subprime Credit Crisis of 2007–2008 (2019) (1)
Public Pension Plans (1983) (1)
An Interview with Nobel Laureate Robert C. Merton (2018) (1)
EARNINGS VARIABILITY AND VARIANCE BOUNDS TESTS FOR THE RATIONALITY OF STOCK MARKET PRICES by (1)
Q Group Panel Discussion: Looking to the Future (2016) (1)
The RAND Corporation Theory of Rational Option Pricing (2010) (1)
Disclose the Fair Value of Complex Securities (2009) (1)
Savings and Loans and the Mortgage Markets (1997) (0)
Footnote Reporting Distorts Impact of Stock Options (2003) (0)
A Better Way to Motivate Staff (2003) (0)
In Honor of Nobel Laureate (1987) (0)
Multi-Period Models:The Main Issues (2003) (0)
On the Pricing of Contingent Claims and the Modigliani–Miller Theorem (2019) (0)
Trust, Transparency, and Complexity (2021) (0)
An Analytic Derivation of the Cost of Deposit Insurance and Loan Guarantees: An Application of Modern Option Pricing Theory (2019) (0)
The Global Financial Systems Project (1999) (0)
On the Valuation of Performance Fees and Their Impact on Asset Managers’ Incentives (2020) (0)
Special Topics and Speakers: Financial Innovation Conference 2008 (2009) (0)
Future Trends in Asset Management: Challenges and Observations (2008) (0)
Nobel Laureate Panel Discussion: What Retirement Means to Me (2009) (0)
ON THE MICROECONOMIC UNDER UNCERTAINTY (1982) (0)
A Look Back and a Way Forward (2021) (0)
Harrington Financial Group (1997) (0)
Made to Measure Is the Best Fit for Future Pensions (2006) (0)
SeLFIES for Portugal: An Innovative Pan European Retirement Solution (2019) (0)
An Asymptotic Theory of Growth under Uncertainty an Asymptotic Theory of Growth under Uncertainty (0)
Report on Ã¢â‚¬Å“The Committee on Yen Risk-free-rate Model EstimationÃ¢â‚¬Â (2007) (0)
Smith Breeden Associates: The Equity Plus Fund (A) (1997) (0)
Observations on Financial Modeling (2001) (0)
A Simple Way to Value Stock Options (2004) (0)
Designing the Best Solution for Retirement (2020) (0)
ON THE M I C R O E C O N O M I C UNDER UNCERTAINTY* (2004) (0)
Interview with Nobel Prize Laureate Robert C. Merton (2004) (0)
ON THE M I C R O E C O N O M I C UNDER UNCERTAINTY* (2004) (0)
Customers and Investors (2015) (0)
Pioneering a world of options (2011) (0)
Speeches by Nobel Laureates (2001) (0)
Transparantie in pensioensector nog ver te zoeken (Adjusted Actuarial Cost Price Conflicts with Transparency Requirement) (2010) (0)
2 Real Options in Theory and Practice 2 . 1 (2019) (0)
The RAND Corporation The Optimality of a Competitive Stock Market Author ( s ) : (2010) (0)
SESSION TOPIC: OPTIONS (1977) (0)
Discussion: \The Value of Implicit Guarantees" (2013) (0)
Annual Review of Financial Economics, Volume 1 (2009) (0)
The Big idea Innovation Risk : How to Make Smarter Decisions (2013) (0)
SeLFIES: A-New(-ity) Look for Retirement (2020) (0)
Options Should be Reflected in the Bottom Line (2002) (0)

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