Review of Bruce Lehmann's 'the Legacy of Fischer Black'

Abstract

This book is an elucidation of the applied science of financial economics, as told through a dozen chapters contributed by many of the preeminent researchers in the field. While none of the material draws directly from Fischer Black's own work, the spirit of the research is what drove Lehmann to select these particular examples. Most of the twelve chapters in this volume derive from talks given at the 1996 Berkeley conference on finance in honor of Fischer Black. In addition to these historic presentations, Lehmann added his own comprehensive summary of the work of Fischer Black; a contribution on "Crisis and Risk Management" by one of Black's most famous collaborators, Myron Scholes; and a beautiful review of the contributions of Black, Merton and Scholes to economics by the IAFE 2003 Financial Engineer of the Year, Darrell Duffie.

Keywords: book review, Fischer Black, Bruce Lehmann

JEL Classification: G00