Editing Myron Scholes (section)

===Academic career===
In 1968, after finishing his dissertation, Scholes took an academic position at the [[MIT Sloan School of Management]]. Here he met [[Fischer Black]], who was a consultant for [[Arthur D. Little]] at the time, and [[Robert C. Merton]], who joined MIT in 1970. For the following years Scholes, Black and Merton undertook groundbreaking research in asset pricing, including the work on their famous option pricing model. At the same time, Scholes continued collaborating with Merton Miller and Michael Jensen. In 1973 he decided to move to the [[University of Chicago Booth School of Business]], looking forward to work closely with Eugene Fama, Merton Miller and Fischer Black, who had taken his first academic position at Chicago in 1972 (although he moved two years later to MIT). While at Chicago, Scholes also started working closely with the [[Center for Research in Security Prices]], helping to develop and analyze its famous database of high frequency stock market data.

In 1981 he moved to [[Stanford University]], where he remained until he retired from teaching in 1996. Since then he holds the position of [[Frank E. Buck]] Professor of Finance [[Emeritus]] at Stanford. While at Stanford his research interest concentrated on the economics of [[investment banking]] and tax planning in [[corporate finance]].

In 1997 he shared the Nobel Memorial Prize in Economics with Robert C. Merton "for a new method to determine the value of derivatives". Fischer Black, who co-authored with them the work that was awarded, had died in 1995 and thus was not eligible for the prize.<ref>[http://nobelprize.org/nobel_prizes/economics/laureates/1997/presentation-speech.html Presentation Speech] by Professor Bertil Näslund of the Royal Swedish Academy of Sciences, December 10, 1997.</ref>

In 2012, he authored an article entitled 'Not All Growth Is Good' in ''[[The 4% Solution: Unleashing the Economic Growth America Needs]]'', published by the [[George W. Bush Presidential Center]].