Merton Miller was awarded the Nobel Prize in Economic Sciences in 1990. He is the Robert R. McCormick Distinguished Service Professor Emeritus of Finance at the University of Chicago's Graduate School of Business as well as a public director of the Chicago Mercantile Exchange, where he previously chaired the Committee of Inquiry Examining the Events Surrounding October 19, 1987. Miller's research currently focuses on the economic and regulatory problems of the financial services industry, especially of the securities and options exchanges. He is the author of Financial Innovations and Market Volatility and most recently of Merton Miller on Derivatives.

Miller received his Ph.D. in economics from Johns Hopkins University.