Stephen Ross
Stephen Alan "Steve" Ross (born February 3, 1944 in Boston , Massachusetts ; † March 3, 2017 ) was an American economist and financial mathematician . His name is closely related to the development of arbitrage and option pricing theory .
Life
Ross first studied at the California Institute of Technology , which he left in 1965 as a Bachelor of Science majoring in physics . Five years later he graduated as a Ph.D. at Harvard University . First he went to the Wharton School of the University of Pennsylvania . In 1976, he followed a call from Yale University , where he took over the Sterling Professorship in Economics and Finance . Since 1998 he has held the Franco Modigliani Chair of Finance and Economics at the Massachusetts Institute of Technology .
Ross made a name for himself in public finance since the 1970s. His main focus is on portfolio theory , investment management and company valuation . He promoted the field of finance with a number of innovations. After being first in the mid-1970s with thoughts of arbitrage and arbitrage one against the capital asset pricing model was simple promoted to-use model, he seemed the end of the decade, especially in cooperation with John Carrington Cox and Mark Rubinstein to develop a discrete model for modeling securities and share price developments with. The binomial model is also often referred to as the Cox-Ross-Rubinstein model . He was later also involved in developing a steady model, this time standing alongside Cox Jon Ingersoll . The so-called Cox-Ingersoll-Ross model , in which the authors used a root diffusion process to describe the development of short-term interest rates , also developed into a standard model on the market.
Prizes and awards
- In 1987 Ross was elected a member of the American Academy of Arts and Sciences .
- In 2014 he received the Morgan Stanley-American Finance Association Award for Excellence in Finance .
- In 2015 he received the Deutsche Bank Prize in Financial Economics .
literature
- Mark Blaug (Ed.): Who's who in economics. 3rd edition, Elgar, Cheltenham [u. a.] 1999, ISBN 1-85898-886-1 , pp. 958-959
Web links
- Stephen Ross at MIT
- Stephen Ross in the IDEAS database
- Literature by and about Stephen Ross in the catalog of the German National Library
Individual evidence
- ^ Zach Church: Professor Stephen Ross, inventor of arbitrage pricing theory, dies at 73. In: MIT News. March 6, 2017, accessed March 6, 2017 .
| personal data | |
|---|---|
| SURNAME | Ross, Stephen |
| ALTERNATIVE NAMES | Ross, Stephen Alan (full name); Ross, Steve |
| BRIEF DESCRIPTION | American economist and financial mathematician |
| DATE OF BIRTH | February 3, 1944 |
| PLACE OF BIRTH | Boston , Massachusetts , United States |
| DATE OF DEATH | March 3, 2017 |