… In the postwar period, the estimates obtained by Black, Jensen, and Scholes for the
mean of R. were significantly greater than zero. One possible explanation for these …

… We are grateful for extensive comments on earlier drafts by Eugene F. Fama, Robert C. Merton,
… f) It is possible to borrow any fraction of the price of a security to buy it or to hold it, at the …

… on the current futures price x(f, I *) with the same transaction … This means that the expected
futures price at any time f’ in the … ‘For the details of this expansion, see Black and Scholes (I …

The effects of noise on the world, and on our views of the world, are profound. Noise in the
sense of a large number of small events is often a causal factor much more powerful than a …

… currencies with the risk premiums generated by Black's global version of CAPM equilibrium.…
In this case, we use the Black-Litterman approach, given in the appendix.15 The formula for …

We analyse two components of posture control in standing human subjects: (1) the mechanical
properties which constrain the body' ability to execute stabilizing postural movements …

… We have done empirical tests of the valuation formula on a large body of calloption data (Black …
We are grateful for extensive comments on earlier drafts by Eugene F. Fama, Robert C. …

… that F is always greater than G, so the financing restrictions do increase the value of the bonds.
When V is large, F is … We would suspect that the premium of F over G is due partly to the …

… In consideration of priority and the validation of serotypes by the above comparative studies,
we recognize the serological classification proposed by FT Black, which establishes at least …

… For the 15 Category 2 and 3 patients, average peak ankle joint excursions were similar at
9.8 f 2.7", but the average hip/ankle ratio of 1.7 f 0.8", however, was significantly larger (Mann…