Merton H. Miller

The Columbia Encyclopedia, 6th ed. | 2011 | 457 words | Copyright

Merton H. Miller 1923–2000, American economist, grad. Harvard, 1943, Ph.D. Johns Hopkins, 1952. A professor at Carnegie-Mellon Univ. (1953–61) and the Univ. of Chicago (1961–93), he developed a theory with Franco Modigliani that seeks a relationship between a company's capital-asset structure and its market value. For his work, he shared the 1990 Nobel Memorial Prize in Economic Sciences with William Sharpe and Harry Markowitz .

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