A thesis student rediscovered Bachelier’s options work only after completing his own

Evidence

Kruizenga had been employing as his asset price model a discrete random walk analogous to Regnault’s, rather than Bachelier’s continuous-time random walk, and must have been discomfited to discover “after most of my analysis had been completed” (Kruizenga 1956, p. 180) that someone else had analyzed the same topic, half a century before, in a mathematically more sophisticated way. — Donald MacKenzie, An Engine, Not a Camera, 284

Categorization

• XREF: Scooped-by-decades intellectual history parallels the pattern of simultaneous discovery (e.g., Newton/Leibniz) noted in other economics-of-science reads. — connects to: Continuous-time stochastic price models were introduced to finance by Bachelier in 1900. — Donald MacKenzie, An Engine, Not a Camera: How Financial…, 263