Julius Silver Professor, Faculty of Arts and Science, and
Professor of Economics, New York University

Co-Editor, American Economic Review
Research Associate, NBER
Part-Time Professor, University of Warwick

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

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Three more?

Nonpaternalistic Intergenerational Altruism

Journal of Economic Theory 41, 112-132, 1987.

Summary. The paper develops a concept of equilibrium behaviour  in a model of nonpaternalistic intergenerational altruism. When each generation’s utility depends on that of at least two successors, equilibria may be inefficient.

On the Competitive Pressure Induced by the Diffusion of Innovations

(with Dilip Mookherjee), Journal of Economic Theory 54, 124-147, 1991.

Summary. We consider the decision of a dominant firm to adopt a sequence of potential cost-reducing innovations, where the latest technology adopted diffuses to a competitive fringe at an exogenous rate. With price competition on the product market, the leader optimally spaces apart the adoption dates of successive innovations, so the industry is characterized by cycles of alternating innovation and diffusion. These results may, however, be reversed in the case of quantity competition.

Conflict and Development

(with Joan Esteban) Annual Reviews of Economics  9, 263-293, 2017.

Summary. In this review, we examine the links between economic development and social conflict. By economic development, we refer broadly to aggregate changes in per capita income and wealth or in the distribution of that wealth. By social conflict, we refer to within-country unrest, ranging from peaceful demonstrations, processions, and strikes to violent riots and civil war. We organize our review by critically examining three common perceptions: that conflict declines with ongoing economic growth; that conflict is principally organized along economic differences rather than similarities; and that conflict, most especially in developing countries, is driven by ethnic motives.