Top ten holiday destinations for After graduating from Chicago in 1968, Scholes became an assistant professor of finance at the Sloan School of Management where he worked with Paul Cootner, Franco MODIGLIANI, Stewart Myers, and Merton. He also met Black who was then a consultant with Arthur D. Little in Cambridge, Massachusetts. It was during this time period that Black, Miller, and Scholes started to develop their option pricing technology. Scholes left Sloan and took a visiting faculty position back at Chicago in 1973, leading to a permanent position in 1974. At Chicago, he became interested in the effects of taxation on asset prices and incentives and published papers on this topic with Miller and Black. In 1983, Scholes became a permanent faculty member of the business and law schools at Stanford University. Top ten holiday destinations 2016.