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"Random Dynamical Systems: Theory and Applications", (with R. Bhattacharya), Cambridge University Press, 2007.

"Equilibrium, Welfare and Uncertainty: Beyond Arrow-Debreu", Routledge, 2009

Volumes (edited):

"Equilibrium and Dynamics: Essays in honor of David Gale", Macmillian, 1992.

"Decentralization in Infinite Horizon Economies", Westview Press, 1992.

"Capital, Investment and Development", (coeditors:Kaushik Basu, Tapan Mitra), Blackwell, 1993.

"Organizations with Incomplete Information", Cambridge University Press, 1998

"Optimization and Chaos", (coeditors: Tapan Mitra, Kazuo Nishimura), Springer Verlag, 2000.

"Probability, Statistics and their Applications": (coeditors: Krishna Athreya, Madan Puri and Edward Waymire), IMS Lecture Notes-Monograph Series, Vol 41, 2003.

"International Journal of Economic Theory: A Special Issue on Growth, Sustainability and Equilibria," (coeditors: Kaushik Basu, Kazuo Nishimura), Vol. 6, 2010.

Research Papers:

"Some Approximation Theorems on Efficiency Prices for Infinite Programs", Journal of Economic Theory, Vol .2, No.4, (1970), pp.399-410.

"Efficiency Prices for Infinite Growth Programs: The Functional Analysis Approach", (with R. Radner) in Techniques of Optimization (ed.,A.Balakrishanan), Academic Press, New York, (1972), pp.371-390.

"Efficiency Prices in Infinite Dimensional Spaces: A Synthesis, "(with M.Kurz), The Review of Economic Studies, Vol .39, (1972), pp.147-158.

"Some General Theorems on Efficiency Prices with an Infinite Dimensional Commodity Space",Vol 5.No1 .Journal of Economic Theory, (1972), pp1-13.

"Random Exchange Economies, "(with R.Bhattacharya), Journal of Economic Theory, Vol.6, No1, (1973), pp.37-67.

"Efficient Programs in Infinite Dimensional Spaces: A Complete Characterization ", Journal of Economic Theory, Vol, 7, No 4, (1974), pp.355-369.

"Some Remarks on Optimal Growth with Intertemporally Dependent Preferences", The Review of Economic Studies, Vol .42, (1975), pp.147-153.

"The Nature of Stochastic Equilibria" , (with J.Green), Econometrica, Vol .43, No.4.

"Equilibrium in Stochastic Economic Models ", in Adaptive Economics, (eds. By D.Ray and T.Groves), Academic Press, (1975), pp.479-498.

"A Note on Representation of Partial Orderings", (with A.K.Sen), The Review of Economic Studies, Vol .43, (1976), pp.543-545.

"On Efficiency and Pareto Optimality of Competitive Programs in Closed Multisector Models", (with D.McFadden and T.Mitra), Journal of Economic Theory, Vol.13, No1, (1976), pp.26-46.

"A Note on The Role of the Tranversality Condition in Signalling Capital Overaccumulation", (with T. Mitra), Journal of Economic Theory, Vol .13, No 1(1976), pp. 47-57.

"On Shifting Temporary Equilibrium", (with D.Christiansen), Journal of Economic Theory,Vol .16, No 1, (1977), pp 1-9.

"Resource Depletion, Research and Development ", (with G.Heal and P. Dasgupta) in Frontiers of Quantitative Economics; Vol III, B (ed., M.Intrilligator), North Holland (1977), pp 483-506, reprinted in The Economics of Exhaustible Resources (ed .G. Heal), Edward Elgar, London (1993).

"The Cournot Walras Arbitrage, Resource Consuming Exchange and Competitive Equilibrium" , (with M.Morishima), in Hommage A Francois Perroux (ed J.Bartoli); Presses Universitaries de Grenoble (1978).

"Global Asymptotic Stability Results for Multisector Models of Optimal Growth Under Uncertainty when Future Utilities are Discounted", (with W.Brock), Journal of Economic Theory,Vol .18, No 2, (1978), pp 225-243.

"On the Asymptotic Behavior of Stochastic Economic Processes: Two Examples for Resource Allocation Under Uncertainty", (with H.Follmer), Journal of Mathematical Economics, Vol .5, No.3, (1978), pp. 275-287.

"Efficiency Intertemporal Allocation Consumption -Valued Maximization, and Capital -Value Transversality: A Unified View", (with D.Cass) in General Equilibrium Growth and Trade: Essays in Honor of L.McKenzie, (eds.,Green and Scheinkman ), Academic Press (1979), pp.227-273.

"On Global Stability of Some Stochastic Economic Processes: A Synthesis" , (with R. Bhattacharya) in Quantitative Economics and Development: Essays in Memory of T.C.Liu (eds.,Nerlove,Klien,Tsiang), Academic Press (1980), pp 19-43.

"Pareto Optimality and Competitive Equilibrium in Infinite Horizon Economies", (with D.McFadden and T. Mitra), Journal of Mathematical Economies, Vol .7, No.1, (1980), pp 1-26.

"Trade Under Temporary Equilibrium: Evolution in a Log Linear World" , (with H.Wan, Jr), Journal of International Economics, Vol .10, No.1, (1980), pp.37-62.

"Stochastic Models in Mathematical Economics: A Review", (with R.N.Bhattacharya) in Statistics: Applications and New Directions, Proceedings of the Indian Statistical Institute Golden Jubilee International Conference, (1981); pp 55-99.

"A Note on Learning and Optimal Decisions with a Partially Observable State Space", in The Economics of Renewable Resources Management, (eds, L.Mirman and D.Spulber), North Holland (1982), pp 141-154.

"Intertemporal Allocation with a Non-Convex Technology: The Aggregative Framework", (with T.Mitra), Journal of Economic Theory, Vol 27, No1, (1982) pp 101-136.

"Feasible Alternatives under Deteriorating Terms of Trade", (with T.Mitra and D.Ray), Journal of International Economies, Vol 13, No.1/2, (1982), pp 105-135.

"Dynamic Optimization in Non -Convex Models with Irreversible Investment: Monotonocity and Turnpike Results", (with M.Nermuth), Zeitschrift fur Nationalokonomie, Vol.42, No.4, (1982), pp 339-362.

"Stationary Optimal Policies with Discounting in a Stochastic Activity Analysis Model", (with R.Radner),Econometrica, Vol .51, (1983), pp.1821-37, reprinted in Growth Theory (eds .R .Becker and E.Burmeister ), Edward Elgar Publishing Limited.

"A Result on the Transfer Problem in International Trade Theory", (with T.Mitra), Journal of International Economics, Vol 19, (1985), pp 161-170.

"Weak Sequential Convergence in L1 (-, x) and an approximate Version of Fatou's Lemma" (with M.Ali Khan), Journal of Mathematical Analysis and Applications, Vol .114, (1986), pp 569-573.

"Optimal Growth in a Stochastic Environment: Some Sensitivity and Turnpike Results", (with I.Zilcha), Journal of Economic Theory, Vol .43, (1987), pp.116-134, reprinted in Growth Theory (eds .R. Becker and E.Burmeister), Edward Elgar Publishing Limited.

"Global Equilibrium Dynamics with Stationary Recursive Preferences", (with J.Benhabib and K. Nishimura), Journal of Economic Behavior and Organization, Vol 8, (1987), pp. 429-52.

"Multisector Growth Models", in The New Palgrave, Vol .3 (eds.J .Eatwell, M.Milgate and P.Newman),MacMillian, (1987), pp 568-570.

"Optimal Intertemporal Allocation Mechanisms and Decentralization of Decisions" (with L.Hurwicz) Journal of Economic Theory, Vol 45, (1988), pp 228-273.

"On Characterizing Optimal Competitive Programs in terms of Decentralizable Conditions", (with W.Brock), Journal of Economic Theory, Vol 45, (1988), pp 262-273.

"Decentralization in Infinite Horizon Economies: An Introduction", Journal of Economic Theory, Vol .45, (1988), pp217-227.

"Dynamic Optimization Under Uncertainty: Non-Convex Feasible Set", (with T.Mitra and Y.Nyarko) in Joan Robinson and Modern Economic Theory, (ed.G.Feiwel), MacMillian, (1989), pp 436-514.

"Optimality and Decentralization in Infinite-Horizon Economies", (with R.Becker), Joan Robinson and Modern Economic Theory, (ed .G. Feiwel), MacMillian, (1989), pp 436-514.

"Controlled Semi-Markov Processes: The Discounted Case" (with R.N.Bhattacharya), Journal of Statistical Planning and Inference, Vol .21 (1989), pp 365-381.

"Controlled Semi-Markov Processes: The Average Reward criterion", (with R.N.Bhattacharya) Journal of Statistical Planning and Inference, Vol .22 (1989), pp 223-242.

"Inequality and Welfare in Market Economies", (with J.Foster and T. Mitra), Journal of Public Economics, Vol 41, (1990), pp 351-367.

"Decentralization and Increasing Returns: The Robinson Crusoe Economy Revisited", (with D.Ray); in Economic Theory and Policy (eds. Dutta,Gangopadhyaya,Mookerjee and Ray); Oxford University Press, (1990), pp 50-78.

"Decentralization Intertemporal", (with T.Mitra) Cuadernos Economics, Vol .46, (1990), pp 61-102.

"Symmetric Stochastic Games of Resource Extraction: The Existence of non-randomized stationary Equilibrium", (with R.Sundaram), in Stochastic Games and Related Topics: Shapley Honor Volume, (eds T.E.S Raghavan, Kluwer Academic Publishers, (1991), pp.175-190.

"Linear Models of Economic Survival Under Production Uncertainty", (with R.Radner), Economic Theory, Vol .1, (1991), pp.13-30.

"Resource Allocation in Non-Walrasian Environments", (with V.Bala and T. Mitra), Journal of Economic Behavior and Organization, Vol .15, (1991), pp 1-28.

"Decentralization Evolutionary Mechanisms for Intertemporal Economies: A Possibility Result", (with V.Bala, T.Mitra), Zeitschrift fur Nationalokonomie, Vol .53 (1991), pp 1-29.

"On Attaining Ramsey-Weiszacker Optimality in a Decentralized Economy: An Impossibility Theorem", in Economic Analysis and Policy (ed. Dipak Banerjee), Oxford University Press, (1991), pp.69-87.

"Intertemporal Decentralization" (with T. Mitra), Finnish Economic Papers:Vol .4, no. 2, (Autumn,1991), pp. 79-103.

"Survival under Production Uncertainty", (with R.Radner), in Equilibrium and Dynamics, (ed. M.Majumdar), Macmillan, (1992), pp 179-200.

"A Note on Optimal Development in a Multisector Non-Convex Economy" (with B.Peleg), in Equilibrium and Dynamics (ed M.Majumdar), Macmillian, (1992), pp.241-246.

"Chaotic Tatonnement" (with V.Bala), Economic Theory, Vol .2, (1992), pp 437-445, reprinted in Chaos Theory in Economics: Methods, Models and Evidence (ed. W.Dechert), Edward Elgar Publishing Company, England.

"Some Results on the Transfer Problem in an Exchange Economy", (with T.Mitra), in Theoretical Issues in Development Economics (eds. Dutta,Gangopadhyay etal), Oxford University Press, (1993), pp 221-244.

"Comparative Dynamic and Chaos in Capital Accumulation Models", in Capital, Investment and Development, (eds.Basu, Majumdar,Mitra),Blackwell, (1993), pp. 99-125.

"Chaotic Dynamical Systems: an Introduction", Economic Theory, Vol .4, (1994), pp .641-648.

"Periodic and Chaotic Programs of Optimal Allocation in an Aggregative Model with Wealth Effects", (with T.Mitra), Economic Theory,Vol .4, (1994), pp 649-676.

"Robust Ergodic Chaos in Discounted Dynamic Optimization Models", (with T Mitra), Economic Theory, Vol.4, (1994), pp 677-688.

"Limit Integration Theorems for Monotone Functions and Parametric Continuity in Zero-Sum Stochastic Games", (with P.K.Dutta), Nonlinear World, Vol .1, (1994), pp .73-92.

"Robust Chaos in Dynamic Optimization Models", (with T.Mitra) Ricerche Economiche, Vol .48, (1994), pp.225-240.

"Parametric Continuity in Dynamic Programming Problems", (with P.K.Dutta and R.Sundaram), Journal of Economic Dynamics and Control, Vol .18, (1994), pp. 1069-1092.

"Patterns of Trade and Growth under Increasing Returns: Escape from the Poverty Trap" (with T.Mitra), Japanese Economic Review, Vol .46, (1995), pp.207-225.

"Complexities of Concrete Walrasian Systems" (with T.Mitra) in Issues in Economic Theory and Public Policy (eds.Bose, Raxit, Sinha), Oxford University Press(1997), pp.41-63.

"The East Asian Miracle and India", S.N. Sen Memorial Lecture, The Asiatic Society, Calcutta, May, 1997.

"An Axiomatization of The Walras Correspondence Infinte Dimensional Spaces", (with B.Peleg), International Economic Review, Vol 38, (1997), pp. 853-864:reprinted in Legacy of Leon Walras (D.A.Walker,ed), Edward Elgar, Cheltemham, U.K.

"Controlling Chaos: Some Analytical Results and Applications to Tatonnement",(with V.Bala and T. Mitra), Nonlinear World, Vol .4, (1997), pp.853-864.

"A Note on Controlling a Chaotic Tatonnement", (with V.Bala and T.Mitra), Journal of Economic Behavior and Organization, Vol .33, (1998), pp. 411-420.

"Complicated Behaviour in Two Commodity Models:A Review", Trade, Theory and Econometrics :Essays in honor of John S.Chipman (J.Moore,J.Melvin,R.Reizman,eds.) Routledge, London (1999), pp.237-252.

"Convergence to Equilibrium of Random Dynamical Systems Generated by I.I.D. Monotone Maps with Applications to Economics", (with R.N.Bhattacharya), in Asymptotics, Nonparametric and Time Series (ed.S.Ghosh), in Marcel Dekker, New York (1999), pp.713-742.

"Identifying Leading Sectors that Accelerate the Optimal Growth Rate: A Computational Approach", (with Ilaria Ossella), in Trade, Growth and Development: Essays in honor of Professor T.N. Srinivasan (G.Ranis and L.K.Raut eds.), Elsevier Science B.V., Amsterdam, 1999, pp.273-290.

"Activity Analysis", in Encyclopedia of Mathematics, Supplement II (Managing Editor:M.Hazewinkel), Kluwer Academic Publishers, 1999.

"On a Theorem of Dubins and Freedman", (with R.N.Bhattacharya), Journal of Theoretical Probability, Vol .12, (1999), pp. 1067-1087.

"Equilibrium Prices in a Random Exchange Economy with Dependent Agents", (with V.Rotar), Economic Theory, Vol .15, (2000), pp 531-564.

"Decentralization and Optimality", (Amiya Dasgupta Memorial Lecture at Visva Bharati University), Economic and Political Weekly, Vol .35, No 33 (2000), pp 2933-42.

"On a Class of Stable Random Dynamical Systems" (with R.N. Bhattacharya), Journal of Economic Theory, vol. 95 (2001), pp. 208-229.

"On Characterizing the Probability of Survival in a Large Competitive Economy" (with R.N.Bhattacharya), Review of Economic Design, Vol.6, (2001), pp 133-153, reprinted in Markets, Games and Organizations (eds. T. Ichiishi and T. Marschak ), Springer, 2002, pp. 7-28.

"Strategy for Economic Reform in West Bengal" (with A. Banerhee, P Bardhan and others), Economic and Political Weekly, Special Article, October 12, 2002, pp 1-34.

"Some General Results on Equilibrium Prices in Large Random Exchange Economies" (with V.Rotar), Annals of Operations Research 114 (2002) pp. 245-261.

"Estimating the Invariant Distribution of a Markov Chain" (with K. Athreya), Economic Theory, 21(2003) pp. 729-742.

"Surviving under Uncertainty in an Exchange Economy" (with Nigar Hashimzade), in Probability, Statistics and Their Applications: Papers in honor of Rabi Bhattacharya (K. Athreya, M. Majumdar, M. Puri, E. Waymire: editors), IMS Lecture Notes-Monograph Series, Vol. 41, Beachwood, Ohio (2003), pp. 187-208

"Dynamic Systems Subject to Random Shocks: An Introduction," (with R.N. Bhattacharya), Economic Theory, vol. 23, (2004), pp.1-12.

"Random Dynamical Systems: A Review" (with R.N. Bhattacharya), Economic Theory, vol. 23, pp 13-38.

"Identifying the Leading Sector: Analytics of a Linear Hayek-Inada Economy," (with I. Ossella-Durbal), forthcoming in Economic Theory and Public Policy: Essays in Honor of Sanjit Bose (S. Lahiri and P. Maita, eds.), Oxford University Press, Delhi, 2004.

"Stability in Distribution of Randomly Perturbed Quadratic Maps as Markov Processes", (with R.N. Bhattacharya), Annals of Applied Probability, Vol. 14, No. 4, (Nov. 2004), pp. 1802-1809.

"Random Dynamical Systems in Economics," in Probability and Partial Differential Equations in Modern Applied Mathematics, (eds., E.C. Waymire and J. Duan), IMA volumes in Mathematics and its Applications, No. 140, Springer-Verlag, New York (2005), pp. 181-195

"A Note on Closing the Windows: Some Lessons from Queuing Theory," (with K. Athreya) International Journal of Economic Theory, Vo. 1, (2005), pp. 73-81.

"Survival, Uncertainty, and Equilibrium Theory: An Exposition," (with N. Hashimzade) in Essays in Dynamic General Equilibrium Theory (A. Citanna, J. Donaldson, H. Polemarchakis, P. Siconolfi and S. Spear, eds.), Springer (2005), pp. 107-128

"Intertemporal Allocation with a Non-Convex Technology," in Handbook on Optimal Growth 1: Discrete Time, (R.Dana, C. LeVan, T. Mitra, and K. Nishimura, eds.), Springer, Berlin 2006, pp. 171-202.

"Strategic Analysis of Petty Corruption: Entrepreneurs and Bureaucrats," (with A. Lambert-Mogiliansky and R. Radner) Journal of Development Economics, Vol. 23, 2007, pp. 351-367.

"Beyond Nandigram: Industrialization in West Bengal," (with A.V. Banerjee, P. Bardhan, and others), Economic and Political Weekly, April 28, 2007, pp. 1487-1489.

"Petty Corruption: A Game Theoretical Approach," (with A. Lambert-Mogiliansky and R. Radner), International Journal of Economic Theory, 4, 2008, pp. 273-397.

"Strategic Analysis of Petty Corruption with an Intermediary" (with A. Lambert-Mogiliansky and R. Radner), Review of Economic Design, vol. 13 (2009), pp. 45-57.

"Equilibrium and Optimality: Some Imprints of David Gale," Games and Economic Behavior, vol. 66, (2009), pp. 607-626.

"Markov Processes Generated by Monotone Maps," in Perspectives in Mathematical Sciences 1: Probablilty and Mathematics (eds., Sastry, Rao, Delampady and Rajeev), World Scientific, Singapore, (2009), pp. 203-225.

"Stochastic Equilibrium: Concepts and Computations for Lindley Processes," (with Sarah Iams), International Journal of Economic Theory, Vol. 6 (2010), pp. 47-66.

"Uncertainty and General Equilibrium," (with R. Radner) in The New Palgrave, 2nd Edition, (eds., L. Blume and S. Durloff), Palgrave Macmillan, (2008), London, pp. 432-451.

"Random Iterates of Monotone Maps," (with R. Bhattacharya) Review of Economic Design, Vol. 14, (2010), pp. 185-192.

"Limit Theorems on Monotone Markov Processess," (with R. Bhattacharya and N. Hashimzade), Sankhya (The Indian Journal of Statistics), Vol. 72 (2010), pp. 170-190.

"On Some Monotone Markov Models," (with N. Hashimzade), in Dimensions of Economic Theory (eds., Dastidar, Mukhopadhyay and Sinha), Oxford University Press, (2011), pp. 35-49.

"Some Theoretical Issues in Sustainable Development: An Exposition," (with T. Bar), to appear in Journal of Economic Theory and Social Development, Vol. 1 (2013), pp.37-56.

"Strategic Analysis of Influence Peddling," (with S.H. Yoo), International Journal of Game Theory, Vol. 41 (2012), pp. 737-762.

"Problems of Ruin and Survival in Economics Applications of Limit Theorems in Probability," (with R. Bhattacharya and L. Lin), Sankhya (The Indian Journal of Statistics), (2013), pp. 145-150.

"Turning the Wheel: The Cost Factor," (with P. Mukherjee), Studies in Microeconomics, 2013), pp. 81-90.

Book Reviews:

Core and Equilibria of a Large Economy (by W.Hildenbrand), Economica, May 1977.

Mathematical Methods in Economics (by N.Schofield), Journal of Business and Economic Statistics, April 1986.

The East Asian Miracle, Economic Growth and Public Policy (A World Bank Policy Research Report), The Statesman, March 8, 1996.

India, Macroeconomics and Political Economy: 1964-1991 (by V.Joshi and I.M.D.Little), Journal of Development Economics, Vol .53, pp 211-218, 1997.

Expository Articles :

"Activity Analysis" in Encyclopedia of Mathematics, Supplement II (Managing Editor: M. Hazewinkel), Kluwer Academic Publishers, 1999.

"Fundamental Economics" in Encyclopedia of Life Support Systems, UNESCO EOLSS Publishers Co., Oxford, (2002).

"Decision Making under Uncertainty" (with D. Easley), Encyclopedia of Life Support Systems, UNESCO EOLSS Publishers Co., Oxford (2002)

Contact Information

Mukul Majumdar
460 Uris Hall
Cornell University
Ithaca, NY 14853

Phone: (607) 255-3540
Fax: (607) 255-2818