Merton Miller on Derivatives

MERTON H. MILLER was awarded the Nobel Prize in Economics in 1990 for his pioneering work in the field of corporate finance. He is the Robert R. McCormick Distinguished Service Professor Emeritus at the University of Chicago Graduate School of Business and has served as president of the American Finance Association. He is currently a director at the Chicago Mercantile Exchange, Globex, and several other financial institutions. A frequent contributor to the op-ed page of the Wall Street Journal, he is also coauthor of The Theory of Finance and author of Financial Innovations and Market Volatility.