Recent Research
Individual Preferences and Democratic Processes:
Two Theorems with Implications for Electoral Politics

Journal of Economic Literature
Less Accessible Writings
Crossings at Benaras Junction: A Play in Three or Four Acts
The Little Magazine, forthcoming
Globalization and Babool Gum: Travels through Rural Gujarat
The Little Magazine, 2005, vol. 5, issue 1.
The Retreat of Global Democracy
Indicators, 2002.
On Why We Do Not Try to Walk off without Paying after a Tax-Ride
Economic & Political Weekly, November 1983, Vol. 18, pp. 2011-2012.
A List of My Books
(editor, with Bryan Maddox and Anna Robinson-Pant), Interdisciplinary Approaches to Literacy and Development
Routledge, London, forthcoming.
(editor, with Ravi Kanbur), Arguments for a Better World
Essays in Honour of Amartya Sen. Volume 2: Development, Society and Institutions, Oxford University Press, 2008.
An Italian translation of this book
Ele Bele: India e le illusioni della democrazia globale, is to be published by Laterza and Figli, Rome, 2008.
The Retreat of Democracy and Other Itinerant Essays on Globalization
Economics and India, Permanent Black, 2007.
(editor) Oxford Companion to Economics in India
Oxford University Press, forthcoming.
Collected Theoretical Papers
Volume 2: Rationality, Games and Strategic Behavior, Oxford University Press, forthcoming.
Collected Theoretical Papers
Volume 1: Development, Markets and Institutions, Oxford University Press, forthcoming.
India’s Emerging Economy: Performance and Prospects in the 1990s and Beyond
The MIT Press, 2004.
(editor, with Henrik Horn, Lisa Roman and Judith Shapiro) International Labor Standards
Blackwell Publishing, 2003.
(editor) Readings in Political Economy
Blackwell Publishing, 2003.
Prelude to Political Economy: A Study of the Social and Political Foundations of Economics
Oxford University Press, 2000.
Analytical Development Economics: The Less Developed Economy Revisited
The MIT Press, 1997.
(editor, with Sanjay Subrahmanyam) Unravelling the Nation: Sectarian Conflict and India’s Secular Identity
Penguin paperback, New Delhi, 1996.
Of People, Of Places: Sketches from an Economist’s Notebook
Oxford University Press, 1994.
(editor, with Prasanta Pattanaik and Kotaro Suzumura) Development, Welfare and Ethics
Clarendon Press, 1995.
(editor) Some Agrarian Questions
Oxford University Press, 1994.
(editor, with Pulin Nayak) Development Policy and Economic Theory
Oxford University Press, 1992.
(editor, with Mukul Majumdar and Tapan Mitra) Capital
Investment and Development, Basil Blackwell, 1993.
Lectures in Industrial Organization Theory
Basil Blackwell, 1993.
Economic Graffiti: Essays for Everyone
Oxford University Press, 1991.
Agrarian Structure and Economic Development
Harwood Academic Publishers, 1990. This book is part of the series, Fundamentals of Pure and Applied Economics, edited by J. Lesourne and H. Sonnenschein.
The Less Developed Economy: A Critique of Contemporary Theory
Basil Blackwell, 1984.
Revealed Preference of Government
Cambridge University Press, 1980.
A Selection of My Papers
The Trials of Randomized Control: Probability, Intuition and the Dinosaur Risk
26th Mar 2018
My new paper on discrimination
18th January 2017
Is literacy shared within households? Theory and evidence for Bangladesh
Labour Economics, 2017
The Economics and Law of Sovereign Debt and Risk Sharing: Some Lessons from the Eurozone Crisis
Law & Economics, 2016
Notes on Child Labor and Education: A Personal Statement
Children and Sustainable Development, 2016
Globalization of labor markets and the growth prospects of nations
Journal of Policy Modeling, 2016
Public Economic Theory, 2016
A New and Rather Long Proof of the Pythagorean Theorem by Way of a Proposition onIsosceles Triangles
The College Mathematics Journal, 2016
The Prospects for an Imminent Demographic Dividend in Africa: The Case for Cautious Optimism
Oxford Handbooks Online, 2015
The Economic Journal, 2015
From Tapering to Tightening The Impact of the Fed’s Exit on India
Policy Research Working Paper, 2015
Some History and a New Proof of the Pythagoras Theorem
5th January 2015
The Art of Currency Manipulation: How Some Profiteer by Deliberately Distorting Exchange Rates
Journal of Globalization and Development, 2014
Randomisation, Causality and the Role of Reasoned Intuition
Oxford Development Studies, 2014
The Indian Economy
Journal of Social and Economic Development, 2015
Group Identity, Productivity and Well-being Policy Implications for Promoting Development
Journal of Human Development and Capabilities, 2013
Bengali Translation of Paper on Economic Policy – Translated by Dr. Anupam Gupta
Dashadishi, Kolkata, 28th November 2012
Text of My K. R. Narayanan Oration
Ministry of Finance, Canberra, 25th August 2012
New Paper on Exchange Rate Manipulation
Ministry of Finance, Government of India, 26th June 2012
How to devalue exchange rates, without building up reserves: Strategic theory for central banking
Economics Letters, 2012
Strategic Theory for Central Banking: How to Influence Exchange Rates without Affecting Reserves
Ministry of Finance, Government of India, 20th Dec 2011
Keynote Lecture Delivered in Rome and to be Published in Rivista Italiana Degli Economisti.
Italian Economic Association, Rome, 14th Oct 2011
Understanding Inflation and Controlling It
Ministry of Finance, Government of India, 5th Aug 2011
The Evolving Dynamics of Global Economic Power in the Post-Crisis World: Revelations from a New Index of Government Economic Power
Ministry of Finance, Government of India, 1st July, 2011
Bribery and Corruption Summary
24th April, 2011
Bribery and Corruption Paper
March, 2011
Understanding Inflation and Controlling It
Economic and Political Weekly, 2011
Non-recourse mortgages and credit market breakdowns: a framework for policy analysis
Macroeconomics and Finance in Emerging Market Economies, 2011
India’s Foodgrains Policy: An Economic Theory Perspective
Economic and Political Weekly, 2011
Experiments with the Traveler’s Dilemma: welfare, strategic choice and implicit collusion
Social Choice and Welfare, 2011
A simple model of the financial crisis of 2007-2009, with implications for the design of a stimulus package
Indian Growth and Development Review, 2011
Economics and Philosophy, 2010
Functionings and Capabilities
Handbook of Social Choice and Welfare, 2010
A marketing scheme for making money off innocent people: A user’s manual
Economics Letters, 2010
The Growth of Industry
Accelerating Growth and Job Creation in South Asia, 2009
Literacy traps: Society-wide education and individual skill premia
International Journal of Economic Theory, 2009
Is product boycott a good idea for controlling child labor? A theoretical investigation
Journal of Development Economics, 2009
China and India: Idiosyncratic Paths to High Growth
Economic and Political Weekly, 2009
Children, Education, Labor, and Land: In the Long Run and Short Run
Journal of the European Economic Association, 2009
A Theory of Efficiency Wage with Multiple Unemployment Equilibria: How a HigherMinimum Wage Law Can Curb Unemployment
Oxford Economic Papers, 2009
A new and easy-to-use measure of literacy, its axiomatic properties and an application
Social Choice and Welfare, 2009
A Simple Model of the Financial Crisis of 2007-9 with Implications for the Design of a Stimulus Package.
CAE Working Paper, 09-11, 2009
The Mechanics of Central Bank Interventions in Foreign Exchange Markets.
CAE Working Paper, 09-02, 2009
Children, Education, Labor and Land: In the Long Run and Short (with Talia Bar).
Journal of the European Economic Association, 2009, Vol. 7, pp. 487-497
Is Product Boycott a Good Idea for Controlling Child Labor? A Theoretical Investigation (with Homa Zarghamee).
Journal of Development Economics, 2009, Vol. 88, pp. 217-220
Literacies, Identities and Social Change: Interdisciplinary Approaches to Literacy and Development (joint w/Bryan Maddox and Anna Robinson-Pant).
Journal of Development Studies, 2008
The Enigma of India’s Arrival.
Journal of Economic Literature, 2008
The Enigma of India’s Arrival: A Review of Arvind Virmani’s Propelling India: From Socialist Stagnation to Global Power
Journal of Economic Literature, 2008
Methodological Individualism
New Palgrave Dictionary of Economics, 2008
Literacies, Identities and Social Change: Interdisciplinary Approaches to Literacy and Development
The Journal of Development Studies, 2008
India’s Dilemmas: The Political Economy of Policymaking in a Globalised World
Economic and Political Weekly, 2008
How Poor Farmers Behave
Man and Society, 2008
Child Labor
New Palgrave Dictionary of Economics, 2008
Utilitarianism for infinite utility streams:A new welfare criterion and its axiomatic characterization
Journal of Economic Theory, 2007
Technological Stagnation, Tenurial Laws, and Adverse Selection
The Traveler’s Dilemma, 2007
The Pattern and Causes
Oxford Review of Economic Policy, 2007
India Globalizaing
Managing Globalization, Lessons from China and India, 2007
Human Rights as Instruments of Emancipation and Economic Development
Economic Rights, Conceptual, Measurement, and Policy Issues, 2007
Coercion, contract and the limits of the market
Social Choice and Welfare, 2007
Beyond Nandigram
Economic and Political Weekly, 2007
Teacher Truancy in India: The Role of Culture, Norms and Economic Incentives
Indian Economic Journal, 2006
Labor Laws and Labor Welfare in the Context of the Indian Experience
Poverty, Inequality and Development, Essays in Honor of Erik Thorbecke, 2006
International credit and welfare: A paradoxical theorem and its policy implications
European Economic Review, 2006
Globalization, Poverty, and Inequality: What is the Relationship? What Can Be Done?
World Development, 2006
The Economic Journal, 2006
Consumer Cognition and Pricing in the Nines in Oligopolistic Markets
Journal of Economics & Management Strategy, 2006
New Empirical Development Economics: Remarks on Its Philosophical Foundations
Economic and Political Weekly, 2005
Racial conflict and the malignancy of identity
The Journal of Economic Inequality, 2005
Global Labour
Wider Perspectives on Global Development, 2005
Child labor and the law: Notes on possible pathologies
Economics Letters, 2005
The Global Child Labor Problem: What Do We Know and What Can We Do?
World Bank Economic Review, 2003
The Economics and Law of Sexual Harassment in the Workplace
Journal of Economic Perspectives, 2003
Punctuality: A Cultural Trait as Equilibrium
Economics for an imperfect world, Essays in honor of Joseph Stiglitz, 2003
Globalization and the Politics of International Finance: The Stiglitz Verdict
Journal of Economic Literature, 2003
Efficiency Pricing, Tenancy Rent Control and Monopolistic Landlords
Economica, 2003
Econometrica, 2003
A note on multiple general equilibria with child labor
Economics Letters, 2002
The Role of Norms and Law in Economics: An Essay on Political Economy
Schools of Thought, Twenty Five Years of Interpretive Social Science, 2001
India and the Global Economy: Role of Culture, Norms and Beliefs
Economic and Political Weekly, 2001
Compacts, Conventions
Cornell International Law Journal, 2001
The Economic Journal, 2000
The Economic Journal, 2000
Isolated and proximate illiteracy Measuring literacy, designing education programmes
Economic and Political Weekly, 2000
Interlinkage, limited liability and strategic interaction
Journal of Economic Behavior & Organization, 2000
The Economics of Child Labor
The American Economic Review, 1998
The New Palgrave Dictionary of Economics and the Law edited by Peter Newman
The New Palgrave Dictionary of Economics and the Law, 1998
The New Palgrave Dictionary of Economics and the Law
The New Palgrave Dictionary of Economics and the Law, 1998
On Measuring Literacy
The Economic Journal, 1998
Why are so many goods priced to end in nine? And why practice hurts the producers
Economics Letters, 1997
The Babu and the Boxwallah: Managerial Incentives and Government Intervention in a Developing Economy
Review of Development Economics, 1997
On Misunderstanding Government
Economics and Politics, 1997
India’s economy and the reforms of the 1990s: genesis and prospect
The Journal of International Trade & Economic Development, 1997
Relief Programs: When it May be Better to Give Food Instead of Cash
World Development, 1996
Notes on Evolution, Rationality and Norms
Journal of Institutional and Theoretical Economics, 1996
Methodological Individualism Resurrecting Controversy
Economic and Political Weekly, 1996
Bargaining with set-valued disagreement
Social Choice and Welfare, 1996
The Japanese Economic Review, 1995
Stackelberg equilibrium in oligopoly: An explanation based on managerial incentives
Economiics Letters, 1995
Rural Credit and Interlinkage: Implications for Rural Poverty, Agrarian Efficiency, and Public Policy
Critical Issues in Asian Development Theories, Experiences and Policies, 1995
Industrial Organization Theory and Development Economics
Indian Industry Policies and Performance, 1995
Civil institutions and evolution: Concepts, critique and models
Journal of Development Economics, 1995
A model of monopoly with strategic government intervention
Journal of Public Economics, 1995
The Traveler’s Dilemma: Paradoxes of Rationality in Game Theory
American Economic Review, 1994
On the Suddenness of International Debt Crises
Sankhya, 1994
Group Rationality
Games and Economic Behavior, 1994
Dual tariff: reforming controlled prices
Journal of International Trade and Economic Development, 1993
The Broth and the Cooks: A Theory of Surplus Labor
World Development, 1992
Soft sets: An ordinal formulation of vagueness with some applications to the theory of choice
Fuzzy Sets and Systems, 1992
Notes on bribery and the control of corruption
Journal of Public Economics, 1992
Limited Liability
Journal of Development Economics, 1992
Collusion in finitely-repeated oligopolies
International Journal of Industrial Organization, 1992
Bad Advice
Economic and Political Weekly, 1992
A Geometry for Non-Wakasian General Eqdibrium Theory
Journal of Macroeconomics, 1992
A characterization of the class of rationalizable equilibria of oligopoly games
Economics Letters, 1992
Women’s economic roles and child survival: the case of India
Health Transition Review, 1991
Strategy subsets closed under rational behavior
Economics Letters, 1991
Fragmented duopoly Theory and applications to backward agriculture
Journal of Development Economics, 1991
On the Non-Existence of a Rationality Definition for Extensive Games
International Journal of Game Theory, 1990
Induction, Knowledge and Efficiency
Economic and Political Weekly, 1990
Entry-Deterrence in Stackelberg Perfect Equilibria
International Economic Review, 1990
Economics Letters, 1990
Bargaining without convexity
Economics Letters, 1990
Technological Stagnation, Tenurial Laws, and Adverse Selection
The American Economic Review, Vol. 79, No. 1 (Mar., 1989), pp. 251-255
A Theory of Association: Social Status, Prices and Markets
Oxford Economic Papers, New Series, Vol. 41, No. 4 (Oct., 1989), pp. 653-671
Why Monopolists Prefer to Make Their Goods Less Durable
Economica, New Series, Vol. 55, No. 220 (Nov., 1988), pp. 541-546
Strategic Irrationality nn Extensive Games
Mathematical Social Sciences 15 (1988) 237-260
Economic Theory in Development Economics: Methodology, Agrarian Structure and RentControl Laws
Economic and Political Weekly, Vol. 23, No. 45/47, Special Number (Nov., 1988), pp.2309-2312
The Growth and Decay of Custom: The Role of the New Institutional Economics in Economic History
Explorations in Economic History 24, 1-21 (1987)
Monopoly, Quality Uncertainty and ‘Status’ Goods
International Journal of Industrial Organization 5 (1987) 435-446. North-Holland
Modeling Finitely-Repeated Games with Uncertain Termination
Economics Letters 23 (1987) 147-151. North-Holland
Migrants and the Native Bond: An Analysis of Microlevel Data from Delhi
Economic and Political Weekly, Vol. 22, No. 19/21, Annual Number (May, 1987), pp.
Disneyland Monopoly, Interlinkage and Usurious Interest Rates
Journal of Public Economics 34 (1987) 1-17. North-Holland
Axioms for a Fuzzy Measure of Inequality
Mathematical Social Sciences 14 (1987) 275-288. North-Holland
Achievements, Capabilities and the Concept of Well-Being
Social Choice and Welfare (1987) 4:69-76
THE MARKET FOR LAND: An Analysis of Interim Traasactions
Journal of Development Economics 20 (1986) 163-177. North-Holland
One Kind of Power
Oxford Economic Papers, New Series, Vol. 38, No. 2 (Jul., 1986), pp. 259-282
Markets, Power and Social Norms
Economic and Political Weekly, Vol. 21, No. 43 (Oct. 25, 1986), pp. 1893-1896
Poverty Measurement: A Decomposition of the Normalization Axiom
Econometrica, Vol. 53, No. 6 (Nov., 1985), pp. 1439-1443
Commitment and Entry-Deterrence in a Model of Duopoly
Economics Letters 18 (1985) 265-269. North-Holland
UTILITY MEASUREMENT: A Direct Proof of Lange’s Conjecture
Economics Letters 15 (1984) 219-221 North-Holland
The Right to Give up Rights
Economica, New Series, Vol. 51, No. 204 (Nov., 1984), pp. 413-422
Implicit Interest Rates, Usury and Isolation in Backward Agriculture
Cambridge Journal of Economics 1984, 8, 145-159
Fuzzy Revealed Preference Theory
Journal of Economic Theory Vol. 32, No. 2, April 1984
Cardinal Utility, Utilitarianism, and a Class of Invariance Axioms in Welfare Analysis
The Delhi School of Economics, Delhi 110 007. India, Received February 1983, revised version accepted July 1983
The Emergence of Isolation and Interlinkage in Rural Markets
Oxford Economic Papers, New Series, Vol. 35, No. 2 (Jul., 1983), pp. 262-280
On Why We Do Not Try to Walk off without Paying after a Tax-Ride
Economic and Political Weekly, Vol. 18, No. 48 (Nov. 26, 1983), pp. 2011-2012
Share, Size and Subsistence: Revisiting Some Old Controversies of Tenancy
Economic and Political Weekly, Vol. 17, No. 30 (Jul. 24, 1982), pp. 1196-1200
Determinateness of the Utility Function: Revisiting a Controversy of the Thirties
The Review of Economic Studies, Vol. 49, No. 2 (Apr., 1982), pp. 307-311
Food for Work Programmes: Beyond Roads That Get Washed Away
Economic and Political Weekly, Vol. 16, No. 1/2 (Jan. 3-10, 1981), pp. 37-40
Causality and Economic Theory
Indian Economic Review, New Series, Vol. 16, No. 1/2 (January-June 1981), pp. 41-53
Optimal Policies in Dual Economies
The Quarterly Journal of Economics, Vol. 95, No. 1 (Aug., 1980), pp. 187-196
Information and Strategy Theory and Decision
Information and Strategy in Iterated Prisoner’s Dilemma Basu, Kaushik Theory and Decision; Jul 1, 1977; 8, 3
Retrospective Choice and Merit Goods
FinanzArchiv / Public Finance Analysis, New Series, Bd. 34, H. 2 (1976), pp. 220-225