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Louis Bachelier: The Father of Modern Option Pricing Theory.
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Sullivan, Edward J.; Weithers, Timothy M. – Journal of Economic Education, 1991
Observes that, before 1973, determining a valuation formula for option prices was an elusive goal of financial economics. Discusses Louis Bachelier's early twentieth-century work on the problem. Notes that Bachelier derived a normal distribution for stock price movements by modeling price changes in specific way. Reviews Bachelier's option pricing…
Descriptors: Cost Indexes, Economic Research, Economics Education, Educational History