The doctoral thesis of Louis Bachelier (1900) is widely considered as the seminal work inoption pricing theory. However, only a few years later, 1908, Vinzenz Bronzin, who wasa professor of actuarial science at the Accademia di Commercio e Nautica in Trieste,published a booklet (in German) on...

This paper originates in an email sent by the second author wondering whether the first author knewabout Bronzin’s booklet on option pricing, dating back almost a century and containing formulas whichappear rather similar to those developed by Black-Scholes. The scepticism of the first author...