25 Quotes by Myron Scholes

Innovation must lead infrastructure for a simple but compelling reason: Innovation produces new types of products and markets, and it is virtually impossible to know how to run those markets efficiently before they are created.

Every side of a coin has another side.

All models have faults - that doesnt mean you cant use them as tools for making decisions.

All models have faults - that doesn't mean you can't use them as tools for making decisions.

My career in academic research has not been involved with active management of securities. I’ve tried to understand risk-and-return relationships; also the pricing of derivative securities.

All models have faults – that doesnt mean you cant use them as tools for making decisions.

I’m a theorist, not an institutionalist.