AWhat changed
The new pricing framework gained broader contracts, conditions and theoretical clarification.
Scientific scope
Merton's separate 1973 paper; Black-Scholes authorship and later extensions are excluded.
Evidence
The linked sources identify this contribution and its scope. WRS has not independently reconstructed the scientific claims. This is Merton’s separate 1973 paper. It is related to, but not coauthorship of, the Black–Scholes paper. Model assumptions and empirical adequacy remain bounded.
Contributors
- Robert C. Merton · SCIENCE: Named source author of the scoped work; individual effort shares are not measured.
Provisional WRS assessment, edition 2026-10-16.1. Independent expert calibration is pending. This grade does not certify correctness or assign ownership.
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