Risk Magazine, July '07
(excerpt)

Earlier this year, the US patent office published patent number 20070061238. Entitled Method and Apparatus for Retirement Income Planning, the patent might easily have been overlooked by anyone scrolling casually through the list of new filings. For someone with a knowledge of finance, however, the patent's authorship would have made it irresistible reading.

The inventors listed are: Zvi Bodie, a leading finance academic; Peter Hancock, former chief financial officer of JP Morgan; Roberto Mendoza, former vice-chairman of JP Morgan; and Robert Merton, a Nobel prize winner whose work with Myron Scholes and the late Fischer Black in developing the Black-Scholes option pricing formula in 1973 helped lay the foundations of modern derivatives markets.

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