Merton Miller

Merton Howard Miller ( born May 16, 1923 in Boston, Massachusetts, † June 3, 2000 in Chicago) was American economist and received along with Harry Markowitz and William Sharpe received the Nobel Prize for Economics in 1990 for his seminal scientific contributions to the theory of corporate finance ( Modigliani -Miller theorem with Franco Modigliani 1958).

Miller worked in the Second World War to the Treasury ( Tax Research) and studied at deer Johns Hopkins University with a Ph.D. in 1952. Thereafter, he was a visiting professor at the London School of Economics and then at the Carnegie Institute of Technology. From 1961 he was professor at the Booth School of Business at the University of Chicago. He retired in 1993.

1983-1985 was re Director of the Chicago Board of Trade and from 1990 to his death in 2000 of the Chicago Mercantile Exchange.

He received in 1990 an honorary doctorate from the University of Karlsruhe.

Writings

  • With Franco Modigliani: The Cost of Capital, Corporation Finance and the Theory of Investment, American Economic Review, Volume 48, 1958, pp. 261-297
  • With Franco Modigliani: Corporate income taxes and the cost of capital: a correction, American Economic Review, Volume 53, 1963, pp. 433-443
  • Merton Miller on Derivatives, Wiley 1991
  • Financial Innovations and Market Volatility, Blackwell Publ 1991
  • With Charles W. Upton Macroeconomics: A Neoclassical Introduction, Chicago: University of Chicago Press 1986
  • With Reuben A. Kessel, RH Coase: Essays in Applied Price Theory. Chicago: University of Chicago Press 1980
  • With Fama Eugene F.: The Theory of Finance. New York: Holt, Rinehart & Winston 1972
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