Did efficient options pricing lead or follow the development of the Black Scholes Merton model? Evidence from the interwar London Metals Exchange

by David Chambers and Rasheed Saleuddin (Judge Business School, University of Cambridge) This research is due to be published in the Economic History Review and is currently available on Early View   In early 1998 a nervous options trader was asked to fill an order from one of the world’s largest global investors. The fund’s manager, … Continue reading Did efficient options pricing lead or follow the development of the Black Scholes Merton model? Evidence from the interwar London Metals Exchange