The Contributions of Stephen A. Ross to Financial Economics

Stephen Brown (), Philip Dybvig, William N. Goetzmann () and Jonathan E. Ingersoll
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William N. Goetzmann: Yale School of Management, Yale University, New Haven, Connecticut 06511, USA
Jonathan E. Ingersoll: Yale School of Management, Yale University, New Haven, Connecticut 06511, USA

Annual Review of Financial Economics, 2021, vol. 13, issue 1, 1-14

Abstract: Stephen A. Ross was one of the most influential scholars in the field of financial economics in the late twentieth century. Ross's work was central to several novel domains of economic inquiry. His contributions included the arbitrage pricing theory (APT), the risk-neutral pricing of contingent claims, the binomial option pricing model, a theory of the term structure of interest rates, a seminal contribution to the economic theory of agency, and insights about conditioning biases in ex post performance measurement. In this article, we discuss his seminal papers and the broad scope of his curiosity within the arc of a remarkably productive and influential career that spanned five decades and yet ended sooner than most who knew him expected.

Keywords: Stephen A. Ross; asset pricing; option pricing; agency theory; corporate finance; arbitrage pricing; biography (search for similar items in EconPapers)
JEL-codes: B3 G1 G2 G3 (search for similar items in EconPapers)
Date: 2021
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DOI: 10.1146/annurev-financial-012921-053116

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