Keeping Your Butter Safe: Groundwork for a New Measure of Global Development“, forthcoming in New Zealand Economic Papers, 2024.


“The Political Economy of Corruption: On the Link between Corruption Control and Cronyosm”, in Chandan Kumar Jha, Ajit Mishra and Sudipta Sarangi (eds.), The Political Economy of Corruption, Routledge Frontiers of Political Economy, 2023.

Markets and Regulation in the Age of Big Tech,” (with Aviv Caspi and Robert Hockett) forthcoming Capitalism and Society.

The Samaritan’s Curse: The Challenge of Group Morality,” SSRN Working Paper.

“The Samaritan’s Curse: Moral Individuals and Immoral Groups,” November 2020 draft. A revised version is published in Economics and Philosophy

Why Have Leaders at All? Hume and Hobbes, with a Dash of Nash,” Working Paper. Forthcoming in Homo Oeconomicus: Journal of Behavioral and Institutional Economics.

“A short history of economic thought from 1776 to now (Chinese translation)”.


The Power and Influence of Rating Agencies with Insights into Their Misuse,” (with Haokun Sun), Economic Modelling, 2022.

Conventions, Morals, Strategy: Greta’s Dilemma and the Incarceration Game” Synthese, 2022

(Chinese translation 中文翻译 published in Comparative Studies, CITIC Press, Beijing.


The Bangladesh Economy: Navigating the Turning Point“, in Innovations: Technology, Governance, Globalization (MIT Press), 2021.

The Ground beneath Our Feet,” forthcoming Oxford Review of Economics and Policy, 2021.

New Technology and Increasing Returns: The End of the Antitrust Century?” in K. Basu and R. Hockett (eds.) Law, Economics and Conflict, Cornell University Press, 2021.

(Chinese translation 中文翻译 published in Comparative Studies, Beijing, 2022)

Markets and Regulation in the Age of Big Tech,” (with Aviv Caspi and Robert Hockett) Capitalism and Society, 2021.


“Reflections on Some Developments in Higher Education in India,” Jindal Journal of Public Policy, 2020.

Introduction: The State of Economics, the State of the World,” in K. Basu, D. Rosenblatt and Sepulveda, C. (eds.), The State of Economics, the State of the World, MIT Press, Cambridge, MA. Chinese translation of this chapter in Comparative Studies, Beijing, 2020, forthcoming.


Inequality, Growth, Poverty and Lunar Eclipses: Policy and Arithmetic,” (with S. Subramanian), Development and Change, 2019.

“Technology, Labor and Globalization: Contemporary Challenges,” Indian Journal of Labour Economics, 2019.

Individual Preferences and Democratic Processes: Two Theorems with Implications for Electoral Politics,” (with Tapan Mitra) Social Choice and Welfare, 2019.


The Trials of Randomized Control: Probability, Intuition, and the Dinosaur Risk,” Social Science and Medicine, 2018.

“The Rise of Trump and an Agenda for Regulatory Reform,” Journal of Policy Modelling,

“The Globe and the Circle: Geometry and Economic Geography as Tribute to Thales and Nash,” Indian Economic Review, 2018.

“Markets and Manipulation: Time for a Paradigm Shift” (Review paper of George Akerlof and Robert Shiller’s Phishing for Phools), Journal of Economic Literature, 2018.


Discrimination as Focal Point: Markets and Group Identity,” Forum for Social Economics, 2017. Reprinted in The Economics of Race and Caste, edited by W. A. Darity and S. Thorat. Part of The International Library of Critical Writings in Economics, Founding Editor: Mark Blaug, Edward Elgar Publishing.

Too Small to Regulate” (with Avinash Dixit), Journal of Quantitative Economics, 2017.


The Economics and Law of Sovereign Debt and Risk Sharing: Some Lessons from the Eurozone Crisis,” Review of Law and Economics, 2016.

“Asymmetric Punishment as an Instrument of Corruption Control,” (with Karna Basu and Tito Cordella), Journal of Public Economic Theory, 2016.

“Globalization of Labor Markets and Growth Prospects of Nations,” Journal of Policy Modelling, 2016.

“Notes on Child Labor and Education: A Personal Statement,” in Pontifical Academy (ed.), Children and Sustainable Development, Springer Verlag, 2016.

“A New and Rather Long Proof of the Pythagoras Theorem, By Way of a Proposition on Isosceles Triangles,” College Mathematics Journal, 2016.

“International Lending, Sovereign Debt and Joint Liability: An Economic Theory Model for Amending the Treaty of Lisbon,” (with Joseph Stiglitz) Economic Journal, 2016.


 “From Tapering to Tightening: The Impact of the Fed’s Tapering on India,” (with B. Eichengreen and P. Gupta), India Policy Forum, volume 11: 2014-15. NCAER-Brookings Institution, 2015.

 “The Prospects for an Imminent Demographic Dividend in Africa: The Case for Cautious Optimism,” (with Alaka Basu) in J. Y. Lin and C. Monga (eds.), Handbook of Africa and Economics, Volume 2, Oxford University Press, 2015.


 “Randomisation, Causality and the Role of Reasoned Intuition,” Oxford Development Studies, vol. 42, No. 4, 2014.

 “Fiscal Policy as Instrument of Investment and Development,” (Presidential Address to the Indian Econometric Society, Mumbai, December, 2013), Journal of Quantitative Economics, 2014.

 “The Art of Currency Manipulation: How Some Profiteer by Deliberately Distorting Exchange Rates,” Journal of Globalization and Development, 2014.

  “A Garden of Ponzis: The Science and Mystique of a Class of Financial Frauds,” Scientific American, June 2014.

  “The Indian Economy: Rising to Global Challenges,” Journal of Social and Economic Development, 2014.


  “The Bihar Economy: An Overview and Some Field Notes,” in N. K. Singh and N. Stern (eds.) The New Bihar: Rekindling Governance and Development, Harper Collins, New Delhi. 2013.

  “Does Economic Theory Influence Government Policy,” Millennial Asia, 2013.

  “Group Identity, Productivity and Welfare: Policy Implications for Promoting Development,” Journal of Human Development and Capabilities, 2013.


“The Rise of the Indian Economy: Fiscal, Monetary and Other Policy Challenges,” Rivista Italiana degli Economisti [Journal of the Italian Economic Association], 2012. Chinese translation in Comparative Studies.”

  “How to Devalue Exchange Rates without Building up Reserves: Strategic Theory for Central Banking,” Economics Letters, 117, 2012. Reprinted in U.Kapila (ed.) 1991-2011 Two Decades of Economic Reforms: Towards Faster, Sustainable and more Inclusive Growth, Academic Foundation, 2012.

  “Why for a Certain Class of Bribes, the Act of Giving a Bribe should be Considered Legal,” in S. Kochhar (ed.) Policy-Making for Indian Planning: Essays on Contemporary Issues in Honour of Montek Singh Ahluwalia, Academic Foundation, 2012.

  “The Evolving Dynamics of Global Economic Power: Revelations from a New Index of Government Power,” (with Supriyo De, Rangeet Ghosh and Shweta) in Business Standard India 2012.


  “Inflation: Experience and Policy,” in K. Basu and A. Maertens (eds.), The New Oxford Companion to Economics in India, Oxford University Press, 2011.

  “Understanding Inflation and Managing It,” Economic and Political Weekly, 46, 2011.

  “A Simple Model of the Financial Crisis of 2007-09,” with Implications for the Design of a Stimulus Package,” Indian Development and Growth Review, 4, 2011. 

  “India’s Foodgrain Policy: An Economic Theory Perspective,” Economic and Political Weekly, 46, 29 January, 2011.

“How Sapient is Homo Economicus:  The Evolutionary Origins of Trade, Ethics and Economic Rationality,” (with Ashok Guha), in A. Guha (ed.), Markets and Morals: Ethical Issues in Economics (vol. XIV Part 3 of History of Science, Philosophy and Culture in Indian Civilization) New Delhi: Centre for Studies in Civilizations, 2011.

“Experiments with the Traveler’s Dilemma: Welfare, Strategic Choice and Implicit Collusion,” (with Leo Becchetti and Luca Stanca), Social Choice and Welfare, 37, 2011.

“The Collective Model of the Household and An Unexpected Implication for Child Labor: Hypothesis and an Empirical Test,” (with Ranjan Ray), in A. Dhar (ed.), Some Contemporary Issues in Development and Growth Economics, Allied Publishers, New Delhi, 2011.


“The Moral Basis of Prosperity and Oppression: Altruism, Other-Regarding Behaviour and Identity.” Cambridge University Press, 2010.

“Non-Recourse Mortgages and Credit Market Breakdowns: A Framework for Policy Analysis,” Macroeconomics and Finance in Emerging Market Economies, 4, 2010.

  “A Marketing Scheme for Making Money off Innocent People: A User’s Manual,” Economics Letters, 107, 2010

  “The Moral Basis of Prosperity: Altruism, Other-Regarding Behavior and Identity,” Economics and Philosophy, 26, 2010.

  “Functionings and Capabilities,” (with Luis-Felipe Lopez-Calva) in K. Arrow, A.Sen and K.Suzumura (eds.), Handbook of Social Choice and Welfare, North-Holland, 2010.

  “Child Labor and Household Wealth: Theory and Empirical Evidence of an Inverted-U,” (with Sanghamitra Das and Bhaskar Dutta), Journal of Development Economics, 91, 2010.


  “China and India: Idiosyncratic Paths to High Growth and the Risks of Stalling,” Economic and Political Weekly, 44, September 2009. Reprinted in Uma Kapila (ed.), Indian Economy since Independence: A Comprehensive and Critical Analysis of India’s Economy, 1947-2015, Academic Foundation, New Delhi, 2009.

  “Literacy Traps: Society-Wide Education and Individual Skill Premia,” (with Vidya Atal, John Gray and Travis Lee), International Journal of Economic Theory, 6, 2009.

  “Growth of Industry and Services in South Asia and Its Impact on Employment: Analysis and Policy,” (with Annemie Maertens) in Ghani, E. and H. Kharas (ed.), Accelerating Growth and Job Creation in South Asia, Oxford University Press, 2009.

  “Children, Education, Labor and Land: In the Short Run and Long,” (with Talia Bar), Journal of the European Economic Association, 7, 2009.

  “Labor Retrenchment Laws and their Effect on Wages and Employment: A Theoretical Investigation,” (with Gary Fields and Shub Debgupta) in B. Dutta, T. Ray, Tridip and E. Sommanathan (eds.), Development and Change, World Scientific Publishers, 2009.

  “Entry on “Famines” in Encyclopedia Britannica, 2009. 


  “Is Product Boycott a Good Idea for Controlling Child Labor? A Theoretical Investigation,” (with Homa Zarghamee), Journal of Development Economics, 88, 2008.

  “Literacies, Identities and Social Change: Interdisciplinary Approaches to Literacy and Development,” (with Bryan Maddox and Anna Robinson-Pant), Journal of Development Studies, 44, 2008.

  “A New and Easy-to-Use Measure of Literacy, Its Axiomatic Properties and an Application,” (with J. Travis Lee), Social Choice and Welfare, 32, 2008.

  “How Poor Farmers Behave: Interpreting ‘Irrationality’,”  Man and Society, 2008.

  Entries on “Methodological Individualism” and “Child Labor”  in L. Blume and S. Durlauf (eds.), New Palgrave Dictionary of Economics, 2008.

  “A Theory of Efficiency Wage with Multiple Unemployment Equilibria: How a Higher Minimum Wage Law Can Curb Unemployment,” (with Amanda Felkey), Oxford Economic Papers, 61, 2008.

  “The Enigma of India’s Arrival,” Journal of Economic Literature, 46, 2008.

  “India’s Dilemmas: The Political Economy of Policy-Making in a Globalized World,” Economic and Political Weekly, February 2008.

  “Unemployment and Vulnerability: A New Class of Measures, Its Axiomatic Properties and Applications,” (with Patrick Nolen), in P. Pattanaik, K. Tadenuma, Y. Xu and N. Yoshihara (eds.), Rational Choice and Social Welfare, Springer, Heidelberg, 2008.

  “Teacher Truancy in India: The Role of Culture, Norms and Economic Incentives,” (The Vera Anstey Memorial Lecture, Visakhapatnam, 28 December, 2005), in N. Jayaram and R. S. Deshpande (eds.) Footprints of Development and Change, Academic Foundation, New Delhi, 2008. (Also published in Indian Economic Journal, 2005.)

  “Possibility Theorems for Aggregating Infinite Utility Streams,” (with Tapan Mitra), in J Romer and K. Suzumura (eds.), Intergenerational Equity and Sustainability, Palgrave, 2008.

  “On the Existence of Paretian Social Welfare Relations for Infinite Utility Streams with Extended Anonymity,” (with Tapan Mitra), in J. Roemer and K. Suzumura (eds.), Intergenerational Equity and Sustainability, Palgrave, 2008.


  “Beyond Nandigram: Industrialization in West Bengal,” (with 8 co-authors), Economic and Political Weekly, 42, no. 17, April 28, 2007.

  “The Traveler’s Dilemma,” Scientific American, 2, 2007. [Translations in German, French, Italian and Polish.

  “Coercion, Contract and the Limits of the Market,” (The Colin Clark Lecture, delivered at the Australasian Meetings of the Econometric Society, Melbourne, 2004), Social Choice and Welfare, 29, 2007.

  “The Pattern and Causes of Economic Growth in India,” (with Annemie Maertens), Oxford Review of Economic Policy, 23, 2007.

  “India Globalizing,” in D. A. Kelly,A., R. S. Rajan,  S. and G. Goh (eds.), Managing Globalization: Lessons from China and India, World Scientific Publishing, Singapore, 2007.

  “Human Rights as Instruments of Emancipation and Economic Development,” in S. L. Hertel, and L. Minkler (eds.), Economic Rights: Conceptual, Measurement, and Policy Issues, Cambridge: Cambridge University Press, 2007.

  “Utilitarianism for Infinite Utility Streams: A New Welfare Criterion and Its Axiomatic Characterization,” (with Tapan Mitra) Journal of Economic Theory, 133, 2007.

  “Social Norms and Cooperative Behavior: Notes from the Hinterland between Economics and Anthropology,” in I. Ray and P. Bardhan (eds.), The Contested Commons: Conversations between Economists and Anthropologists, Blackwell Publishers, 2007. Chinese translation published in Comparative Studies, China CITIC Press, 28, pp. 94-102.


  “Globalization, Poverty and Inequality: What is the Relationship? What Can be Done? World Development, 34, 2006.

  “International Credit and Welfare: A Paradoxical Theorem and its Policy Implications,” (with Hodaka Morita), European Economic Review, 50, 2006.

  “Consumer Cognition and Pricing in the 9’s in Oligopolistic Markets,” Journal of Economics and Management Strategy, 15, 2006.

  “Gender and Say: A Model of Household Behavior with Endogenously-Determined Balance of Power,” Economic Journal, 116, 2006.

  “Desarollo desde una perspective multidisciplinaria: analysis economico y normas socials,”  (Development in a Multidisciplinary Perspective: Economic Analysis and Social Norms), Cuestiones Economicas, (Ecuador) 22, 2006

  “Policy Dilemmas for Controlling Child Labor,” in A. Banerjee, R. Benabou and D. Mookherjee (eds.), What we have Learned about Poverty, Oxford University Press, New York, 2006.

  “Labor Laws and Labor Welfare in the Context of the Indian Experience,” in A. de Janvry and R. Kanbur (eds.), Poverty, Inequality and Development: Essays in Honor of Erik Thorbecke, Kluwer, Norwell, Massachusetts, 2006.


  “The New Empirical Development Economics: Remarks on Its Philosophical Foundations,” Economic and Political Weekly, 40, October 1, 2005.

  “Global Labor Standards and Local Freedoms,” in UNU-WIDER (ed.), WIDER Perspectives on Global Development, Palgrave Macmillan, 2005.

  “Racial Conflict and the Malignancy of Identity,” Journal of Economic Inequality, 3, 2005.

  “Child Labor and the Law: Notes on Possible Pathologies,” Economics Letters, 87, 2005.


  “Globalization and Development: A Re-examination of Development Policy,” in A. Kohsaka and K. Nishikimi (eds.) New Development Strategies: Beyond the Washington Consensus, Palgrave Macmillan, 2004.

  “The Indian Economy: Up to 1991 and Since,” in K. Basu (ed.), India’s Emerging Economy: Performance and Prospects in the 1990s and Beyond, MIT Press, Cambridge, 2004.

  “Gender Discrimination in the Workplace: Facts, Bases and Policy Response,” (with Alaka Basu), in W. T. Kosanovich (ed.), Improving Labor Market Opportunity and Security for Workers in Developing Countries: ILAB Symposium Papers, U.S. Department of Labor, International Labor Affairs, Washington, D.C., 2004.


  “Globalization and the Politics of International Finance: The Stiglitz Verdict,” Journal of Economic Literature, 41, 2003.

  “Marginalization in a Globalizing World: Some Plausible Scenarios and Suggestions for Measurement, in C. Edmonds (ed.), Reducing Poverty in Asia, Edward Elgar, Cheltenham, U.K., 2003.

  “The Economics and Law of Sexual Harassment in the Workplace,” Journal of Economic Perspectives, 17, 2003. (pre-publication version)

  “Punctuality: A Cultural Trait as Equilibrium,” (with Jorgen Weibull), in R. Arnott, R. Kanbur, B. Greenwald, and B. Nalebuff (eds.) Economics for an imperfect world: Essays in honor of Joseph Stiglitz, MIT Press, Cambridge, 2003.

  “Aggregating Infinite Utility Streams with Inter-generational Equity,” (with Tapan Mitra), Econometrica, 71, 2003.

  “The Global Child Labor Problem: What Do We Know and What Can We Do?” (with Zafiris Tzannatos), World Bank Economic Review, 17, 2003.

  “Unemployment and Wage Rigidity when Labor Supply is a Household Decision,” (with Garance Genicot and Joseph Stiglitz), in K. Basu, P. Nayak and R. Ray (eds.), Markets and Governments, Oxford University Press, New Delhi, 2003.

  “Efficiency, Tenancy Rent Control and Monopolistic Landlords,” (with Patrick Emerson), Economica, 70, 2003.


  “The Retreat of Global Democracy,” Indicators: The Journal of Social Health, 1, 2002.

  “Ideology, Economics and Labor Market Policy,” NCAER Golden Jubilee Lecture Series, in R. Mohan (ed.) Facets of the Indian Economy, New Delhi: Oxford University Press, 2002.

  “Is Literacy Shared within Households?: Theory and Evidence for Bangladesh,” (with Ambar Narayan and Martin Ravallion), Labour Economics, 8, 2002.

  “A Note on Multiple General Equilibria with Child Labor,” Economics Letters, 74, 2002.


“India and the Global Economy: Role of Culture, Norms and Beliefs,” Economic and Political Weekly, 36, October 6, 2001.

“Compacts, Conventions and Codes: Initiatives for Higher International Labor Standards,” Cornell International Law Journal, 34, 2001. Reprinted in S. Jain (ed.), Reader in Law and Economics, Oxford University Press, 2010. Reprinted in J. Singh (ed.), Regulation, Institutions and the Law, Social Science Press, 2007.

“The Role of Norms and Law in Economics: An Essay on Political Economy,” in D. Keates and J. Scott (ed.), Schools of Thought: Twenty Five Years of Chinese translation in Comparative Studies, China CITIC Press, 23:95-117. Interpretive Social Science, Princeton University Press, 2001.

“On the Goals of Development,” in G. Meier and J.E. Stiglitz (eds.), Frontiers of Development Economics, Clarendon Press, Oxford, 2001.

“International  Labor Standards and Child Labor,” Challenge, 42, September, 1999. [Reprinted in N. Kabeer, G. B. Nambisan, R. Subrahmanian (eds.) (2003), Child Labor and the Right to Education: Needs versus Rights? New Delhi: Sage. Chinese translation of this article is published in the Jiangsu Social Sciences, 2001.


“Isolated and Proximate Illiteracy: And why the concepts matter in measuring literacy and designing education programmes,” (with James Foster and S. Subramanian), Economic and Political Weekly, 35, No. 1, January 8, 2000.

“The Economics of Tenancy Rent Control,” (with Patrick Emerson), Economic Journal, 110, November, 2000.

“On the Intriguing Relation between Adult Minimum Wage and Child Labor,” Journal, 110, March 2000.

“Whither India? The prospect of Prosperity,” in R.  Thapar (ed.), India: Another Millennium? Penguin Books, 2000.

“Interlinkage, Limited Liability and Strategic Interaction,” (with Pinaki Bose and Clive Bell), Journal of Economic Behavior and Organization, 42, 2000.


Amartya Sen: Economics Nobel Laureate 1998,” Challenge, vol. 42, 1999

“The Economics of Child Labor: Reply,” (with Pham Hoang Van), American Economic Review, 89, December 1999.

Child Labor: Cause, Consequence and Cure, with Remarks on International Labor Standards,” Journal of Economic Literature, 37, September, 1999. Spanish translation, ‘Causas, Consecuencias y Soluciones: Observaciones de las normas  laborales internacionales,’ in L. F. Lopez Calva (ed.), Trabajo Infantil: Teoria y Lecciones de la America Latina, Fondo de Cultura Economica, Mexico City, 2006


“On Measuring Literacy,” (with James Foster), Economic Journal, 108, November, 1998.

“The Economics of Child Labor,” (with Pham Hoang Van) American Economic Review, 88, June, 1998.

Entry on “Underdevelopment” (Italian translation) in Enciclopedia Italiana, Volume XI, Supplemento II, Fondata da Giovanni Treccani, 1998.

“Social Norms and Law,” in P. Newman (ed.), The New Palgrave Dictionary of Economics and the Law, Macmillan, 1998.

“Paradoxes of Game Theory,” in P. Newman (ed.), The New Palgrave Dictionary of Economics and the Law, Macmillan, 1998.


“On Misunderstanding Government: An Analysis of the Art of Policy Advice,” Economics and Politics, 9, 1997. Chinese translation published in Comparative Studies, China CITIC Press, 25, pp. 82-98.

“India’s Economy and the Reforms of the Nineties: Genesis and Prospect,” (with Prasanta Pattanaik), Journal of International Trade and Economic Development, 6, 1997.

“Babu and the Boxwallah: Managerial Incentives and Government Intervention in a Developing Economy,” (with Arghya Ghosh and Tridip Ray), Review of Development Economics, 1, 1997.

Why are So Many Goods Priced to End in Nine? And why this Practice Hurts the Producers,” Economics Letters, 54, 1997.

“The Economic and Cultural Consequences of Globalization,” in Europe-Asia: Science and Technology for their Future, Forum Engelberg, Zurich, 1997.

Entry on “Welfare Economics” in the Blackwell Dictionary of Business Ethics, Blackwell, 1997.


“Some Institutional and Legal Prerequisites of Economic Reform in India,” in H.E. Bakker and N. G. Schulte Nordholt (eds), Corruption and Legitimacy, SISWO Publications, Amsterdam, 1996.

Notes on Evolution, Rationality and Norms,” Journal of Institutional and Theoretical Economics, 152, 1996.

“Relief Programs: When May it be Better to Give Food Instead of Cash,” World Development, 24, 1996.

Methodological Individualism: Resurrecting Controversy,” Economic and Political Weekly, February 3, 1996.

“Bargaining with Set-valued Disagreement,” Social Choice and Welfare, 13, 1996.


“Stackelberg Equilibrium in Oligopoly: An Explanation based on Managerial Incentives,” Economics Letters, 49, 1995.

“Industrial Organization Theory and Development Economics,” in D. Mookherjee (ed.), Indian Industry: Policies and Performance, Oxford University Press, 1995.

“Rural Credit and Interlinkage: Implications for Rural Poverty, Agrarian Efficiency, and Public Policy,” in M.G. Quibria (ed.) Critical Issues in Asian Development: Theories, Experiences and Policies, Oxford University Press, 1995.

“Flexibility in Economic Theory,” in T. Killick (ed.), The Flexible Economy: Causes and Consequences of the Adaptability of National Economics, Routledge, 1995.

“The Concept of Equality and Interpersonal Comparisons,” in W. Eichhorn (ed.), Essays on Inequality and Measurability, Springer-Verlag, 1995.

“The Strategic Role of International Credit as an Instrument of Trade,” (with Ashwini Deshpande), Japanese Economic Review, 46, 1995.

“Civil Institutions and Evolution: Concepts, Critique and Models,” Journal of Development Economics, 46, 1995. Reprinted in A. de Janvry, S. Radwan, E. Sadoulet and E. Thorbecke,(eds.), State, Market and Civil Organizations, London: Macmillan, 1995.

“A Model of Monopoly with Strategic Government Intervention,” (with T.C. Anant and Badal Mukherji), Journal of Public Economics, 57, 1995.


“On the Suddenness of International Debt Crises,” Sankhya, series B, 1994.

“The Traveler’s Dilemma: Paradoxes of Rationality in Game Theory,” American Economic Review, 84, May 1994.

Group Rationality and Escher’s Waterfall,” Games and Economic Behavior, 7, 1994.


“Sustainable Development and the Commons Problem: A Simple Approach,” (with Ajit Mishra),  in P. Bardhan, M. Datta Chaudhuri and T.N. Krishnan (eds.), Development and Change, Oxford University Press, 1993.

“Dual Tariff: Reforming Controlled Prices,” Journal of International Trade and Economic Development, 2, 1993.

“Efficiency Wage Theory with Monopolistic Landlords,” in K. Basu, M. Majumdar and T. Mitra (eds.) Capital, Investment and Development, Blackwell, 1993.

“Some Simple Analytics of Inflation and Unemployment in a Dual Economy,” in S. Subramanian (ed.), Themes in Development Economics: Essays in Honour of Malcolm Adiseshiah, Oxford University Press, Oxford, 1993.


“Collusion in Finitely-Repeated Oligopolies,” International Journal of Industrial Organization, 10, 1992.

“A Characterization of the Class of Rationalizable Equilibria for Oligopoly Games,” Economics Letters, 40, 1992.

“Bad Advice,” Economic and Political Weekly, 27, March1992.

“Markets, Governments and Laws,” in B. Jalan (ed.), The Indian Economy: Anatomy of a Crisis, Penguin, 1992.

“Limited Liability and the Existence of Share Tenancy,” Journal of Development Economics, 38, 1992.

“A Geometry for Non-Walrasian General Equilibrium Theory,” Journal of Macroeconomics, 14, 1992.

“Notes on Bribery and the Control of Corruption,” (with Sudipto Bhattacharya and Ajit Mishra), Journal of Public Economics, 48, 1992.

“The Broth and the Cooks: A Theory of Surplus Labor,” World Development, 20, 1992.

“Soft Sets: An Ordinal Formulation of Vagueness with Some Applications to the Theory of Choice, ” (with Rajat Deb and Prasanta Pattanaik), Fuzzy Sets and Systems, 45, 1992.


“Fragmented Duopoly: Theory and Applications to Backward Agriculture,” (with Clive Bell), Journal of Development Economics, 36, 1991.

“Women’s Economic Roles and Child Survival: The Case of India,” (with Alaka Basu), Health Transition Review, 1, 1991.

“Strategy Subsets Closed Under Rational Behaviour,” (with Jorgen Weibull), Economics Letters, 36, 1991.

“The International Debt Problem, Credit Rationing and Loan Pushing: Theory and Experience,” Princeton Essays in International Finance, 70, 1991.


“Induction, Knowledge and Efficiency,” Economic and Political Weekly, 25, July 1990.

“Bargaining Without Convexity: Generalizing the Kalai-Smorodinsky Solution,” (with T.C.A. Anant and Badal Mukherji), Economics Letters, 33, 1990.

On the Non-Existence of a Rationality Definition for Extensive Games,” International Journal of Game Theory, 19, 1990.

“Strategic Entry-Deterrence in Stackelberg Perfect Equilibria,” (with Nirvikar Singh), International Economic Review, 31, 1990.

“Duopoly Equilibria When Firms Can Change Their Decision Once,” Economics Letters, 32, 1990.

“Combating Persistent Poverty in South Asia: Policy Options,” in J. Dreze and A. Sen (eds.), The Political Economy of Hunger: Vol. 3: Endemic Hunger, Oxford University Press, Oxford, 1990.


“Rural Credit Markets: The Structure of Interest Rates, Exploitation and Efficiency,” in P.K. Bardhan (ed.) The Economic Theory of Agrarian Institutions, Basil Blackwell, Oxford and New York, 1989.

“A Theory of Association: Social Status, Prices and Markets,” Oxford Economic Papers, 41, 1989.

“Technological Stagnation, Tenurial Laws and Adverse Selection,” American Economic Review, 79, 1989.


“Economic Theory in Development Economics: Methodology, Agrarian Structure and Rent Control Laws,” Economic and Political Weekly, Special Number, 1988.

“Project Evaluation and the Shadow Wage: Accounting for Regional Disparities and Inequality,” Public Finance, 43,1988.

“Notes on Nonlinear Pricing and Monopoly with a Comment on Backward Credit Markets,” Journal of Quantitative Economics, 4, 1988.

“Why Monopolists Prefer to Make Their Goods Less Durable,” Economica, 55, 1988.

“Strategic Irrationality in Extensive Games,” Mathematical Social Sciences, 15, 1988


“Disneyland Monopoly, Interlinkage and Usurious Interest Rates,” Journal of Public Economics, 34, 1987.

“The Greying of Populations: Concepts and Measurement,” (with Alaka Basu), Demography India, 16, 1987.

“Monopoly, Quality Uncertainty and ‘Status Goods’,” International Journal of Industrial Organization, 5, 1987.

“Migrants and the Native Bond: An Analysis of Micro-level Data from Delhi,” (with Alaka Basu and Ranjan Ray), Annual Number, Economic and Political Weekly, 22, 1987.

“Modelling Finitely Repeated Games with Uncertain Termination,” Economics Letters, 23, 1987.

“Achievements, Capabilities and the Concept of Preference,” Social Choice and Welfare, 4, 1987.

“Axioms for a Fuzzy Measure of Inequality,” Mathematical Social Sciences, 14, 1987.

“New Institutional Economics in Economic History,” Explorations in Economic History, 24, 1987.


“Markets, Power and Social Norms in a Development Context,” (CASID Occasional paper No. 9, Michigan State University), Economic and Political Weekly, 21, 1986.  A related version entitled ‘Limitations of the market: Conjectures, Customs and Norms’ appeared in B.L. Agarwal (ed.), Alternative Economic Structures, Allied, New Delhi, 1989.

“One Kind of Power,” Oxford Economic Papers, 38, 1986.

“The Market for Land: An Analysis of Interim Transactions,” Journal of Development Economics, 20, 1986.


“Poverty Measurement: A Decomposition of the Normalization Axiom,” Econometrica, 53, 1985.

“Commitment and Entry-deterrence in a Model of Duopoly,” (with Nirvikar Singh), Economics Letters, 18, 1985.


“Utility Measurement: A Direct Proof of Lange’s Conjecture,” Economics Letters, 15, 1984.

“The Right to Give Up Rights,” Economica, 51, 1984.

“Implicit Interest Rates, Usury and Isolation in Backward Agriculture,” Cambridge Journal of Economics, 8, 1984.

“Fuzzy Revealed Preference Theory,” Journal of Economic Theory, 32, 1984.


“Cardinal Utility, Utilitarianism and a Class of Invariance Axioms in Welfare Analysis,” Journal of Mathematical Economics, 12, 1983.

“On Why We Do Not Try to Walk Off Without Paying After a Taxi Ride,” Economic and Political Weekly, 18, 1983.

“Transactions Demand for Money and Portfolio Diversification,” Indian Economic Journal, 31, 1983.

“The Emergence of Isolation and Interlinkage in Rural Markets,” Oxford Economic Papers, 35, 1983.


“Determinateness of the Utility Function: Revisiting a Controversy of the Thirties,” Review of Economic Studies, 49, 1982.

“Share, Size and Subsistence: Revisiting Some Old Controversies on Tenancy,” (with Prannoy Roy), Economic and Political Weekly, 17, 1982.


“Food for Work Programmes,” Economic and Political Weekly, 16, 1981.

“Causality and Economic Theory,” Indian Economic Review, 16, 1981.


“Optimal Policies in Dual Economies,” Quarterly Journal of Economics, 95, 1980.


“Some Implications of Baumol’s Theory of Transactions Demand for Money,” Indian Economic Journal, 24, 1977.

“Information and Strategy in the Iterated Prisoner’s Dilemma,” Theory and Decision, 8, 1977.


“Retrospective Choice and Merit Goods,” Finanzarchiv, 34, 1976.