Amazing discovery: Vincenz Bronzin's Option PricingModels

In 1908, Vinzenz Bronzin, a professor of mathematics at the Accademia di Commercio e Nauticain Trieste, published a booklet in German entitled Theorie der Prämiengeschäfte (Theory ofPremium Contracts) which is an old type of option contract. Almost like Bachelierÿs now famousdissertation (1900), the work seems to have been forgotten shortly after it was published.However, almost every element of modern option pricing can be found in Bronzinÿs book. Inparticular, he uses the normal distribution to derive a pricing equation which comes surprisinglyclose to the Black-Scholes-Merton formula.