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Merton H. Miller

Miller, Merton H., 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.

The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved.

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