Department of Economics


Santanu Roy


Ph.D., Cornell University
Umphrey Lee 301L

As a microeconomic theorist, my primary concerns are economic incentives and economic efficiency. One strand of my research focuses on avoidance of zero in economic processes of capital accumulation over time; within this strand, I have studied the possibility of sustaining positive consumption under uncertainty, economic growth with technological non-convexities, extinction and conservation of natural resources, and eradication and control of invasive species. Another strand of my research focuses on markets and institutions with incomplete information; within this strand, I have studied problems of dynamic trading under asymmetric information, signaling and strategic communication of private information in oligopolies, and dynamic charitable fundraising under incomplete information. I have also worked on a variety of issues in industrial organization including the dynamics of industry structure with endogenous heterogeneity and technological change, as well as some issues in international trade policy.

My current research topics include the nature of competitive industry dynamics with industry-wide learning, dynamic efficiency of deforestation, the existence of a globally stable positive steady state in the stochastic growth model and the effect of disclosure regulation on strategic information acquisition by firms.     

I grew up in the state of Assam in north eastern India. I studied at the University of Delhi, and then at Cornell University (Ithaca, NY) from where I received my doctorate. I taught at Erasmus University (Rotterdam, The Netherlands) and Florida International University (Miami, FL) before joining SMU in 2003. I have served as the Director of Graduate Studies in the Economics department since 2006. In the current academic year, I have the privilege of serving as the President of the SMU faculty senate and a member of the Board of Trustees.   

Research Interests

Microeconomic Theory and Applications, Dynamic Economic Models, Industrial Organization, Economics of Natural Resources and the Environment, Applied Game Theory, International Trade and Policy

Courses Taught

Microeconomic Theory, Industrial Organization and Mathematics for Economics

Selected Publications

  • “Sustained Positive Consumption in a Model of Stochastic Growth: The Role of Risk Aversion" (with T. Mitra), Journal of Economic Theory 147, 850-880 (2012).
  • "Signaling quality through prices in an oligopoly" (with M.C.W. Janssen), Games and Economic Behavior 68, 192-207 (2010).
  • "Repeated charitable contributions under incomplete information" (with P. Bag), Economic Journal 118, 60-91 (2008).
  • "A Non-smooth, Non-Convex Model of Economic Growth" (with T. Kamihigashi), Journal of Economic Theory 132, 435-560 (2007)
  • "Optimal Exploitation of Renewable Resources under Uncertainty and the Extinction of Species" (with T. Mitra), Economic Theory 28, 1-23 (2006).
  • "Dynamic Trading in a Durable Good Market with Asymmetric Information" (with M.C.W. Janssen), International Economic Review 43, 257 – 282 (2002).
  • "Dynamic Efficiency of Renewable Resource Conservation under Uncertainty" (with L.J. Olson), Journal of Economic Theory 95(2), 186-214 (2000).
  • “Cost Reducing Investment, Competition and Industry Dynamics" (with Emmanuel Petrakis), International Economic Review 40, 381-401 (1999).
  • "The Learning Curve in a Competitive Industry" (with E. Petrakis and E. Rasmusen), Rand Journal of Economics, 28, 248-268, 1997.
  •  "On Conservation of Renewable Resources with Stock-Dependent Return and Non- Concave Production" (with L.J. Olson), Journal of Economic Theory 70,133-157 (1996).


  • Gerald J. Ford Research Fellowship, SMU, 2006.
  • Faculty Award for Excellence in Research, FIU, 2002.
  • GDIACC Award for Outstanding Contribution to Education, 2009.
  • Research Fellow, Research Institute of Economics and Business Administration (RIEB), Kobe University, Japan 2013.
  • Research Fellow, Tinbergen Institute, Rotterdam, The Netherlands, 1997.
  • Honorary Professor, Higher School of Economics, Moscow, Russia, 1997.

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