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The Contributions of Stephen A. Ross to Financial Economics

Author

Listed:
  • Stephen J. Brown

    (Department of Finance, Leonard N. Stern School of Business, New York University, New York, NY 10012, USA)

  • Philip H. Dybvig

    (Olin School of Business, Washington University in Saint Louis, Saint Louis, Missouri 63130, USA)

  • 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)

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.

Suggested Citation

  • Stephen J. Brown & Philip H. Dybvig & William N. Goetzmann & Jonathan E. Ingersoll, 2021. "The Contributions of Stephen A. Ross to Financial Economics," Annual Review of Financial Economics, Annual Reviews, vol. 13(1), pages 1-14, November.
    • Handle: RePEc:anr:refeco:v:13:y:2021:p:1-14
    DOI: 10.1146/annurev-financial-012921-053116
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    Keywords

    Stephen A. Ross; asset pricing; option pricing; agency theory; corporate finance; arbitrage pricing; biography;
    All these keywords.

    JEL classification:

    • G1 - Financial Economics - - General Financial Markets
    • G2 - Financial Economics - - Financial Institutions and Services
    • G3 - Financial Economics - - Corporate Finance and Governance
    • B3 - Schools of Economic Thought and Methodology - - History of Economic Thought: Individuals

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