Faculty News
Professor Menachem Brenner's development of the volatility index is featured
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![London Review of Books logo 192 x 144 London Review of Books logo 192 x 144](/sites/default/files/styles/480w/public/assets/images/londonreviewofbooks192x144.jpg?itok=d_PEcC_E)
Excerpt from the London Review of Books -- "In the mid-1980s, the economists Menachem Brenner and Dan Galai began to lobby the US options exchanges to create a ‘volatility index’, based on options prices, that would measure stock-market volatility in a way loosely analogous to – albeit mathematically far more sophisticated than – how the Dow Jones average or the Standard & Poor 500 Index summarises the market’s overall level."
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