Indian-American economist (born 1957)
Debraj Ray [ 1] New York University . His research interests focus ondevelopment economics andgame theory . Ray served asCo-editor of theAmerican Economic Review
Ray is Julius Silver Professor in the Faculty of Arts and Science,New York University , since 2003,[ 2] New York University since 1999. He is also a Part-Time Professor at theUniversity of Warwick . He is a Research Affiliate at theNational Bureau of Economic Research , a council member of theGame Theory Society , and a board member of Theoretical Research in Development Economics (ThReD ). He served as a board member at the Bureau for Research in the Economic Analysis of Development (BREAD ), since its inception till 2023.
Debraj Ray graduated from theUniversity of Calcutta , where he earned a B.A. in economics in 1977. After that, Ray obtained a M.A. (1981) and a Ph.D. (1983) both fromCornell University , where his doctoral supervisor wasMukul Majumdar . The title of his dissertation is Essays inIntertemporal Economics .
Prior to joining NYU, Ray held academic positions atStanford University , theIndian Statistical Institute , and atBoston University , where he was Director of the Institute for Economic Development. He has held visiting appointments atHarvard University ,MIT , theInstituto Nacional de Matemática Pura e Aplicada inRio de Janeiro ,Brazil , thePeople's University of China in Beijing, theLondon School of Economics ,Columbia University , the Instituto de Análisis Económico inBarcelona and theUniversity of Oslo .
Notable contributions by Ray include:
a concept of egalitarianism under participation constraints (Dutta and Ray 1989 ); a theory of renegotiation in dynamic games (Bernheim and Ray 1989 ,Ray 1994 ); a theory of poverty traps based on undernutrition, and later related work on persistent inequality (Dasgupta and Ray 1986 ,Dasgupta and Ray 1987 ,Baland and Ray 1991 ,Mookherjee and Ray 2003 ); the development of a concept of polarization, and its connections to social conflict (Esteban and Ray 1994 ,Duclos, Esteban and Ray 2004 ,Esteban and Ray 2011 ); a theory of coalition formation (Ray and Vohra 1997 ,Ray and Vohra 1999 ,Ray 2008 ); a theory of socially determined aspirations (Ray 2006 ,Genicot and Ray 2017 ); a leading textbook in Development Economics (Ray 1998 ). Professional affiliations and awards [ edit ] Ray is a Fellow of theAmerican Academy of Arts and Sciences , a Fellow of theEconometric Society , a Fellow of the Bureau for Research and Economic Analysis of Development, a Fellow of theSociety for the Advancement of Economic Theory , aGuggenheim Fellow , a recipient of the Mahalanobis Memorial Medal, and a recipient of the Outstanding Young Scientists Award in mathematics from theIndian National Science Academy .[ 3] Doctor Philosophiae Honoris Causa from theUniversity of Oslo in 2011.[ 4]
Apart from three terms asCo-editor of theAmerican Economic Review [ 5] editorial board ofEconometrica Journal of Economic Theory Journal of Development Economics Journal of Economic Growth , theJapanese Economic Review Games and Economic Behavior American Economic Journal Microeconomics Review of Economic Studies Econometric Society Theoretical Economics
Among Ray's many public lectures are the 2013Sir Richard Stone Annual Lecture at the University of Cambridge, the2016 Laffont Lecture of the Econometric Society (Geneva), the 2017 Richard Ely Distinguished Lectures at Johns Hopkins University, the 2022Haavelmo Lecture at theUniversity of Oslo , and the inauguralAshok Kotwal Memorial Lecture (Ideas for India , New Delhi, 2022).
Ray has received many awards for his teaching and research from different institutions around the world. Among them are:
Ray, Debraj (1990). Dutta, B.; Gangopadhyay, S.; Mookherjee, D. (eds.).Economic Theory and Policy: Essays in Honour of Dipak Banerji . New Delhi: Oxford University Press. Ray, Debraj (1992). Dutta, B.; Mookherjee, D.; Parthasarathy, T.; Raghavan, T.; Tijs, S. (eds.).Game Theory and Economic Applications . New Delhi: Springer Verlag. Ray, Debraj (1993). Dutta, B.; Gangopadhyay, S.; Mookherjee, D. (eds.).Theoretical Issues in Economic Development . New Delhi: Oxford University Press. Ray, Debraj (1997). Dutta, B.; Potters, J.; Parthasarathy, T.; Sen, A. (eds.).Game-Theoretical Applications to Economics and Operations Research . Kluwer Academic Publishers. Ray, Debraj (1998).Development Economics . Princeton University Press. Ray, Debraj (2000). Mookherjee, D. (ed.).Readings in the Theory of Economic Development . London: Blackwell. Ray, Debraj; Bose, A.; Sarkar, A. (2001).Contemporary Macroeconomics . New Delhi: Oxford University Press. Ray, Debraj (2008).A Game-Theoretic Perspective on Coalition Formation . New York: Oxford University Press. Selected Journal Articles [ edit ] Ray, Debraj;Dasgupta, Partha (1986)."Inequality as a Determinant of Malnutrition and Unemployment, I. Theory" .Economic Journal .96 (384):1011– 1034.doi :10.2307/2233171 . Ray, Debraj; Dutta, Bhaskar. (1989)."A Concept of Egalitarianism Under Participation Constraints" Econometrica .57 :615– 635.doi :10.2307/1911055 . Ray, Debraj; Bernheim, B. Douglas. (1989)."Collective Dynamic Consistency in Repeated Games" Games and Economic Behavior .1 (4):295– 326.doi :10.1016/0899-8256(89)90020-1 . Ray, Debraj; Genicot, G. (2017)."Aspirations and Inequality" (PDF) .Econometrica .85 (2):489– 519.doi :10.3982/ECTA13865 .S2CID 8082979 . Ray, Debraj (2017)."Kenneth Arrow" .El Trimestre Económico .84 (336):761– 769.doi :10.20430/ete.v84i336.605 Ray, Debraj; Robson, A. (2018)."Certified Random: A New Order for Co-Authorship" (PDF) .American Economic Review .108 (2):489– 520.doi :10.1257/aer.20161492 .S2CID 13007924 . Ray, Debraj; Anderson, S. (2019). "Missing Unmarried Women".Journal of the European Economic Association .17 (5):1585– 1616.doi :10.1093/jeea/jvy027 . Ray, Debraj; Vohra, R. (2019)."Maximality in the Farsighted Stable Set" (PDF) .Econometrica .87 (5):1763– 1779.doi :10.3982/ECTA16047 . Ray, Debraj; Lou, Y.; Parsa, S.; Li, D.; Wang, S. (2019)."Information Aggregation In a Financial Market With General Signal Structure" (PDF) .Journal of Economic Theory .183 :594– 624.doi :10.1016/j.jet.2019.05.004 .S2CID 181736975 . Ray, Debraj; Philip, M.; Subramanian, S. (2021)."Decoding India's Low COVID-19 Case Fatality Rate" Journal of Human Development and Capabilities .22 :27– 51.doi :10.1080/19452829.2020.1863026 .S2CID 233223886 . Ray, Debraj; Vohra, R. (2020)."Games of Love and Hate" (PDF) .Journal of Political Economy .128 (5):1789– 1825.doi :10.1086/705552 .S2CID 216323749 . Ray, Debraj; Subramanian, S. (2020)."India's Lockdown: An Interim Report" .Indian Economic Review . 55(S1) (Suppl 1):31– 79.doi :10.1007/s41775-020-00094-2 .PMC 7435223 PMID 32836357 .S2CID 221174567 . Ray, Debraj; Genicot, G. (2020)."Aspirations and Economic Behavior" .Annual Review of Economics .12 :715– 746.doi :10.1146/annurev-economics-080217-053245 S2CID 212427015 . Ray, Debraj; Espinosa, F.; Vohra, R. (2021). "A Principal-Agent Relationship With No Advantage to Commitment".Pure and Applied Functional Analysis .6 :1043– 1064. Ray, Debraj; Mookherjee, D. (2022)."Growth, Automation, and the Long-Run Share of Labor" Review of Economic Dynamics .46 :1– 26.doi :10.1016/j.red.2021.09.003 . Ray, Debraj; Mayoral, Laura (2021). "Groups in Conflict: Private and Public Prizes".Journal of Development Economics .
International National Academics Other
