Fischer Black (1938–1995) was an economist at the University of Chicago at the time of his seminal 1973 paper with Myron Scholes, later moving to MIT and then Goldman Sachs. His primary contribution was the Black-Scholes option pricing formula, derived through the continuous delta-hedge argument and shown preference-free via a CAPM-based alternative derivation. He also extended the framework to options on futures (Black 1976) and contributed to equilibrium asset pricing. Black died in 1995; the Nobel Prize was awarded to Scholes and Merton in 1997, which cannot be given posthumously.