Talk:Fischer Black
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[edit] Financial economist
Sorry I don't have time to edit this in detail now, but the obvious missing ingredient is something about his work in options pricing, or even just in finance, rather than more straight (boring?) economics.
I know how it was edited in almost by accident, but I think it's wrong to say that the Black-Derman-Toy model has gotten any special recognition - certainly any recognition that it's gotten doesn't fit the context (compared to the Nobel Prize).
With all the options related articles in Wikipedia - this one deserves much more work. Smallbones 17:24, 4 May 2006 (UTC)
[edit] About the title Economic career
Who wrote that text? That quote is really silly, it's completely stupid, here's a comment to it:
If the Federal Reserve System tries to inject money into the private sector, the private sector will simply turn around and exchange its money for Treasury bills at the next auction. -- No, idiot, the fed decides exactly how much M0 should be and how big the repo position with it's authorized dealers (with accounts at the central bank) will be. It can set the interest rate to zero by buying interest rate notes, or very high by continuously selling treasury bills or even it's own equivalent notes (if it should run out of treasury paper) in infinite amount.
If the Federal Reserve withdraws money, the private sector will allow some of its Treasury bills to mature without replacing them. -- What does that mean? If interest rates rise people will hold less of its money in interest bearing accounts? Interest rates are not at the will of the private sector, it should be extremely simple to understand that the fed has the monopoly on issuing money and can decide exactly how much M0 should be. It could withdraw everything but a few dollars and that would make the interest rate extremely high, if it wanted to.-- JR, 15:07, 5 April 2007 (UTC)
[edit] Fischer Black Prize
I've expanded this section to include additional information.
Additionally I have removed it from the category of "posthumous recognition." Views on categorisation and location welcomed.
Finally I've added a link back to this section in the "Raghuram Rajan" article. Asperal 19:07, 19 June 2007 (UTC)
[edit] Image for Bio-box
Could someone more familiar with the image copyright and fair-use guidelines look into uploading an image?
With a web search I have identified three strong possibilities...
- (my preference) http://www.library.hbs.edu/hc/exhibits/merton/black.gif However this is labelled at the bottom as presented courtesy of the MIT Museum. Other than the date shown, Oct 75, there is no info about circumstances. In context: http://www.library.hbs.edu/hc/exhibits/merton
- More recent, in color, lower res. and no info (copyright or otherwise) there is: http://bradley.bradley.edu/~arr/bsm/pg07.html
- Finally a clip could be taken from his bio book - I don't own a copy. This image appears on many booksellers sites around the web. The highest resolultion I've found being a 27k JPEG measuring 332x500. Asperal 19:07, 19 June 2007 (UTC)