Current Working Papers



Development Economics

  1. New Empowerment or Financialization? The Gains from Financial Inclusion (with T. Besley, K. Burchardi, and L. Xu). Working Paper. Latest version: January 2024.
  2. New Public Service Delivery, Exclusion, and Externalities: Theory and Experimental Evidence from India (with Alex Armand, Britta Augsburg, and Antonella Bancalari), Working Paper, Last revised November 2023.
  3. New Revisiting the Eswaran-Kotwal Model of Tenancy (with Dilip Mookherjee), Working Paper, Last Revised September 2023.         


Incentives and Organizations

  1. Motivational Investments and Financial Incentives, (with Z. Wahhaj), April 2023. [Earlier version here] (Revise and resubmit)
  2. The Evolution of Motivation, (with T. Besley). Working Paper, January 2023 (slides).
  3. Market Incentives and the Evolution of Intrinsic Motivation, (with T. Besley). Working Paper. First version: February 2016.



  1. Should all voluntary exchanges be legal? First version: September 2, 2014.


Older Working Papers

  1. The Role of Finance in the Process of Development: Improving Access versus Reducing Frictions, (with T. Besley and K. Burchardi). Working Paper. Latest version: April 2021.
  2. Why Do People Stay Poor? (with Clare Balboni, Oriana Bandiera, Robin Burgess, and Anton Heil), CEPR Discussion Paper DP14534. March, 2020.
  3. Repayment Frequency and Lending Contracts with Present-Biased Borrowers, (with Greg Fischer). Working Paper. Last Revised: September 2016.
  4. Notes on Theories of Sharecropping Tenancy and their Empirical Implications, Working Paper. Last revised: September 2015.
  5. Solving Agency Problems: Intrinsic Motivation, Incentives, and Productivity (with Tim Besley). Background paper for the World Development Report 2015. Last Revised: January 2014.
  6. Land Acquisition and Compensation in Singur: Results of a Survey, (with Sandip Mitra, Dilip Mookherjee, and Anusha Nath), Working Paper, March 2012 [See also press coverage, and op-ed].
  7. Microfinance, Market Structure, and Borrower Welfare in Microfinance: Regulatory Lessons from the Indian Crisis (with Jon de Quidt and Thiemo Fetzer), Working Paper, March 2012.
  8. Taxation and Regulation of Bonus Pay, (with Tim Besley), July 2011. (A less technical version was published in Vox and a shorter version in the AEA Papers and Proceedings, May 2013.
  9. Credit Rationing, Wealth Inequality and Allocation of Talent, October 2002, (with Massimo Morelli and Tomas Sjostrom). STICERD Theoretical Economics Discussion Paper TE/2002/441.
  10. Gun Control and the Self Defense Argument, Version: January 2001
  11. Reputation, Information Externalities, and Discrimination, Version: September 1999.
  12. Dynamic Incentives, Occupational Mobility, and the American Dream, Iowa State University Economic Report Series. 50, 1998.
  13. Empowerment and Efficiency: The Economics of Agrarian Reform, Working Paper 98-22, Department of Economics, MIT.

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Last modified: March 2024

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