My first reaction on being awarded the Nobel Prize was, actually, I thought of Fischer Black, my colleague. He unfortunately had passed away. And there was no doubt in my mind that if he were still alive, he would have been a co-recipient of the Nobel Prize.
More Quotes by Myron Scholes
Sometimes the early bird gets the worm, but sometimes the early bird gets frozen to death.
I think in our global economy, uncertainty is ever increasing. So to accommodate to that, we need to build a dynamic economy and dynamic rules that can adapt to changing circumstances.
All models have faults - that doesn't mean you can't use them as tools for making decisions.
I'm a theorist, not an institutionalist.
Every side of a coin has another side.
If someone says to you, 'Go to an old-folks' home,' that's kind of ridiculous, because a lot of old people are doing terrific things for society.