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Aug 30, 2020 at 12:41 comment added Paul Burchett From wikipedia, with their source on the topic: "This first version of the story would constitute the first historically known creation and use of futures, whereas the second version would be the first historically known creation and use of options." George Crawford, Bidyut Sen – Derivatives for Decision Makers: Strategic Management Issues, John Wiley & Sons, 1996 ISBN 9780471129943
Aug 30, 2020 at 12:17 comment added Gerry Myerson Wikipedia? Who said anything about Wikipedia?
Aug 30, 2020 at 9:59 comment added Paul Burchett Wikipedia is incorrect then. I've also seen other sources that cite Thales as well. The old testament reached its current form in the Persian period (538-332 BC). Thales came before that. I suppose if you believe the Bible is to be taken as a real account, then that reference would be older. However, I don't think you'll find a scholar that would argue that Thales wasn't real.
Aug 30, 2020 at 9:36 comment added Gerry Myerson I think Joseph of Genesis preceded Thales in the use of futures. Seven good years, followed by seven lean years, and all that. But there's no record of Joseph making any mathematical contributions, Thales has him beat there.
Aug 30, 2020 at 6:53 history edited Paul Burchett CC BY-SA 4.0
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Aug 30, 2020 at 5:38 history edited Paul Burchett CC BY-SA 4.0
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S Aug 30, 2020 at 5:33 history answered Paul Burchett CC BY-SA 4.0
S Aug 30, 2020 at 5:33 history made wiki Post Made Community Wiki by Paul Burchett