Observations on Finance Science and Insurance Innovation in Improving Economic Performance

Robert C. Merton is the School of Management Distinguished Professor of Finance at Massachusetts Institute of Technology, and a Professor Emeritus at Harvard University. He is currently Resident Scientist at Dimensional Holdings, Inc., where he is the creator of Target Retirement Solution, a global integrated retirement-funding solution system.

Merton received the Alfred Nobel Memorial Prize in Economic Sciences in 1997 for a new method to determine the value of derivatives. He is past president of the American Finance Association, a member of the National Academy of Sciences, and a Fellow of the American Academy of Arts and Sciences.

His research focuses on finance theory, including lifecycle and retirement finance, optimal portfolio selection, capital asset pricing, pricing of derivative securities, credit risk, loan guarantees, financial innovation, the dynamics of institutional change, and improving the methods of measuring and managing macro-financial systemic risk.

The Karl Borch Lecture Series was established in 2002 by the Department of Finance and Management Science, in honour of Karl Borch.

Borch was a professor at NHH between 1963 and 1986, and is considered one of the founders of economics of uncertainty.

The annual lecture is on a current research topic and given by distinguished scholars, whose research capture the pioneering spirit of Borch, but not necessarily his fields of research in a narrow sense.

The Karl Borch Lecture is sponsored by the Institute for Research in Economics and Business Administration (SNF).