Julius Silver Professor, Faculty of Arts and Science, and
Professor of Economics, New York University
Research Associate, NBER
Part-Time Professor, University of Warwick
Council Member, Game Theory Society
Research Fellow, CESifo
Board Member, BREAD and ThReD
Researcher in Residence, ESOP

Department of EconomicsNYU, 19 West 4th Street
New York, NY 10012, U.S.A.
debraj.ray@nyu.edu, +1 (212)-998-8906.

Or use navbar and search icon above to look for specific research areas and papers.

Three Randomly Selected Papers
Click again to re-randomize

Anatomy of a Contract Change

with Rajshri Jayaraman and Francis de Vericourt, American Economic Review 106, 316-358, 2016Online Appendix.

SummaryWe study a contract change for tea pluckers. Base wages increased while incentive piece rates were lowered or kept unchanged. Yet, in the following month, output increased by 20–80%. This response contradicts the standard model, is only partly explicable by greater supervision, and appears to be “behavioral.” But in subsequent months, the increase is comprehensively reversed. Our findings suggest that behavioral responses may be ephemeral, and should ideally be tracked over an extended period. 

Coalition Formation as a Dynamic Process

(with Hideo Konishi), Journal of Economic Theory 110, 1–41, 2003.

Summary. We study coalition formation as an ongoing, dynamic process, with payoffs generated as coalitions form, disintegrate, or regroup.


CesIfo Economic Studies 2015.

Summary. Yes, capital must displace labor, but not because r > g. This article is based on this blog post, Branko Milanovic objected here; I replied. Piketty replies to some of his critics here.