Subhash C. Ray

Award 

Received the 2016 William W. Cooper Lifetime Contributions Award from the International Data Envelopment Society at DEA 2016 at Wuhan, China 

Contact Information

E-mail:subhash.ray@uconn.edu

Education Background

Highest Degree & Major
Ph.D.(Economics)  1981 U. of California, Santa Barbara
Fellow in Management  1976 IndianInstitute of Management, Calcutta 

Professional Experience

1992 - : Professor of Economics, University of Connecticut, Storrs, CT. 
1987-92: Associate Professor, Department of Economics, University of Connecticut, Storrs, CT.  1982-87 : Assistant Professor, Department of Economics, University of Connecticut, Storrs, CT.  1981-82 : Visiting Lecturer, Department of Economics, University of California, Santa Barbara, CA.  1977-81 : Teaching/ Research Assistant, Department of Economics, U.of California, Santa Barbara, CA.  1976-77 : Faculty member (designated as Senior Training Officer) of the Management Development Institute of Bharat Heavy Electricals Ltd. 
1972-75 : Graduate student in the “Fellowship in Management” program at Indian Institute of Management, Calcutta. 
1967-72 and 1975-76: Lecturer in Economics (the Indian equivalent of an Assistant Professor), University of Kalyani, India. 

Visiting Positions

Jan - Mar 1990: Visiting Scientist, Indian Statistical Institute, Calcutta, India. 
Apr - May 1990: Visiting Faculty, Department of Econometrics, University of Sydney, Australia.  Feb - Mar 1997: Visiting Scholar, Dept. of Statistics and Operational Research, University of 
Alicante, Spain. 
Aug-Sept 2000: Visiting Fulbright Lecturer, Indian Institute of Management, Calcutta, India  Sept-Dec 2000: Visiting Fulbright Lecturer, Indian Institute of Management, Ahmedabad, India  Jan- Apr 2004: Visiting Scientist, Indian Statistical Institute, Calcutta 
July-Dec 2005: Visiting Faculty, Indian Institute of Management Calcutta, India
January 2020: Visiting Faculty, Jadavpur University, Calcutta, India

Fields of Research Specialization

 Applied Micro (production analysis)
 Data Envelopment Analysis
 Applied Econometrics 

Selected Publications

Book

● Data Envelopment Analysis: Theory and Techniques for Economics and Operations Research (Cambridge University Press 2004). 
● Handbook of Production Economics Vols 1-3 (Springer Nature 2022)

Papers

● (with Shilpa Sethia) Nonparametric measurement of potential gains from merger: an additive decomposition and application to Indian bank mergers; Journal of Productivity Analysis Vol 57 Issue 2
● (with R. Chambers) Neoclassical Production Economics: An Introduction; in S C Ray, R Chambers, and S C Kumbhakar (eds) Handbook of Production Economics Vol I (Springer)
● Data Envelopment Analysis: A Nonparametric Approach to Production Analysis; forthcoming in S C Ray, R Chambers, and S C Kumbhakar (eds) Handbook of Production Economics Vol I (Springer)
● Conceptualization and Measurement of Technical Change and productivity Growth; forthcoming in S C Ray, R Chambers, and S C Kumbhakar (eds) Handbook of Production Economics Vol 2 (Springer)
● Choice of Inputs and Outputs for Production Analysis; forthcoming in S C Ray, R Chambers, and S C Kumbhakar (eds) Handbook of Production Economics Vol 3 (Springer)
● (with A. Deb and K. Mukherjee) Unrestricted geometric distance functions and the Geometric Young productivity index: an analysis of Indian manufacturing; Empirical Economics (2021) Vol 60 pp 3103-3134
● (with J. Walden and L. Chen) Economic Measures of Capacity Utilization: A Nonparametric Short Run Cost Function Analysis; European Journal of Operational Research, (2021) Vol 293, pp 375-387
● Data Envelopment Analysis under Alternative Returns to Scale; in Thijs ten Raa and W, Greene (eds) The Palgrave Handbook of Economic Performance Analysis. (Palgrave MacMillan, 2019) pp 145-188.
● Ray, S. C. (2019). Transformation Function, Technical Efficiency, and the CCR Ratio. European Journal of Operational Research, (doi.org/10.1016/j.ejor.2019.02.014 
● Huang, L., Ray, S., Segerson, K., & John, W. (2018). Impact of Collective Rights-based Fisheries Management: Evidence from the New England Groundfish Fishery. Marine Resource Economics.
● (with Kankana Mukherjee) A Reverse Directional Distance Function to reconcile between competing efficiency goals: An application to Indian manufacturing; Indian Economic Review (2017) 
● (with Kankana Mukherjee) Data Envelopment Analysis with Aggregated Inputs and a Test of Allocative Efficiency When Input Prices Vary Across Firms; Data Envelopment Analysis Journal, 2016, 2: 1–21 
● (Subhash C. Ray, Kankana Mukherjee, and Anand Venkatesh) Nonparametric measures of efficiency in the presence of undesirable outputs: a by-production approach; Empirical Economics; DOI 10.1007/s00181-017-1234-5 
● Cost efficiency in an Indian bank branch network: A centralized resource allocation model; Omega 65 (2016) 69–81 
● Data Envelopment Analysis: An Overview; in R N Sengupta et al (eds) Handbook of Decision Science (2016, Taylor & Francis) pp 943-986 
● "Nonparametric measures of scale economies and capacity utilization: An application to U.S. manufacturing"; European Journal of Operational Research 245 (2015) 602–611 
● "On the Question of Land Acquisition for Private Development: Lessons from the United States, India, and China"; Emerging Economy Studies Vol 1, No. 1; pp 71-89 (Sage) 
● (with Arnab Deb) "Total Factor Productivity Growth in Indian Manufacturing: A Biennial Malmquist Analysis of Inter-State Data"; Indian Economic Review, Vol. XLIX, No.1, 2014, pp. 53-77 
● (with Arnab Deb) "An Inter-State Analysis of Total Factor Productivity Growth in Selected Two-digit Industries in Indian manufacturing"; Global Business Review; Supplement to Volume 15 No. 4; 2014; pp 59S-86S 
● (with Arpita Ghose) "Production efficiency in Indian agriculture: An assessment of the post green revolution years" Omega, Volume 44, April 2014, Pages 58-6
● (with Juan Aparicio and Jesus T. Pastor) "An Overall Measure of Technical Inefficiency at the Firm and at the Industry Level: The'Lost Return on the Dollar'Revisited," European Journal of Operational Research (2012). 
● (with Mainak Majumdar and Meenakshi Rajeev). "Sources of Heterogeneity in the Efficiency of Indian Pharmaceuticals Firms," Indian Economic Review (2011) 
● (with Tryfon J. Beazoglou, Lei Chen, Vickie Lazar, Jackson Brown, Dennis Heffley, Rob berg, and Howard Bailit) "Expanded Function Allied Dental Personnel and Dental Practice Productivity and Efficiency"; Journal of Dental Education 2012 76:1054-1060
● "Cost Efficiency and Scale Economies in Dental Care," Journal of the Operations Research Society (2012) (with Lei Chen). 
● "Tools and Techniques for Evaluating Service Delivery," in (with M.S. Kimenyi and Lei Chen) Institutions and Service Delivery in Africa (2012) in M.S. Kimenyi, editor(Nairobi, Kenya: African Research Consortium, 2012), 112-139 
● (with Anup Bhandari) "Technical Efficiency in the Indian Textiles Industry: A Nonparametric Analysis of Firm Level Data"; Bulletin of Economic Research (2012). 
● (with Yanna Wu) "Technical Efficiency and Stock Market Reaction to Horizontal Mergers"; in Bhattacharya, Basabi and Malabika Roy (eds) A Collection of Essays in Finance (Allied Publishers, Calcutta, 2010) pp 230-263. 
● "Data Envelopment Analysis with Bootstrap: A Beginner's Guide"; forthcoming in Arpita Dhar (ed) Themes in Quantitative Economics (Calcutta: Allied Publishers). 
● (with A. Das). Distribution of Cost and Profit Efficiency: Evidence from Indian Banking; European Journal of Operational Research 201 (2010) 297-307.
● "Are Indian Firms too Small? A Nonparametric Analysis of Cost Efficiency and the Optimal Organization of Industry in Indian Manufacturing"; Indian Economic Review Vol XXXXVI (2009) No.1 , 49-67. 
● (with Lei Chen and Kankana Mukherjee) Input price variation across locations and a generalized measure of cost efficiency”; International Journal of Production Economics;116; (2008) 208-218. 
● (with A. Das and A. Nag) Labor-Use Efficiency in Indian Banking: A Nonparametric Analysis of BranchLevel Data’, OMEGA: The International Journal of Management Science, (2009) 37; 411-425.
● (with W.W. Cooper) A Response to M Stone:"How Not to Measure the Efficiency of Public Services (and how one might)"; Journal of the Royal Statistical Society, Series A.;(2008); 171; Part 2; 433-448. 
● (with Yongil Jeon) "Reputation and Efficiency: A Nonparametric Assessment of America's Top-rated MBA Programs"; European Journal of Operational Research; Volume 189, Issue 1, 16 August 2008, Pages 245268. 
● "The Directional Distance Function and Measurement of Super-Efficiency: An Application to Airlines Data"; Journal of the Operational Research Society (2008)59, 788-797. 
● "Shadow Profit Maximization and a Measure of Overall Efficiency"; Journal of Productivity Analysis.(2007); 27: 231-236. 
● "Are Some Indian Banks Too Large? An Examination of Size Efficiency in Indian Banking"; Journal of Productivity Analysis.(2007); 27: 41-56. 
● (with Kankana Mukherjee and Yanna Wu)"Direct and Indirect Measures of Capacity Utilization : A Nonparametric Analysis of U.S. Manufacturing"; The Manchester School 2006 
● (with Kankana Mukherjee)"Technical Efficiency and its Dynamics in Indian Manufacturing: An Inter-state Analysis"; in Indian Economic Review Vol XXXX, Number 2, 2005, pp 101-125. 
● "A Simple Statistical Test of Violation of the weak Axiom of Cost Minimization"; Indian Economic Review, Jan-June 2004, pp 111-122.
● (with Evangelia Desli) "A Bootstrap Procedure to Capture Unit Specific Effects in Data Envelopment Analysis"; Indian Economic Review, Jan-June 2004, pp 89-110. 
● (with Kankana Mukherjee) "Does the Presence of Surplus Labor Hinder Production in Indian Manufacturing?" in -Sugata Marjit and Nirmala Banerjee eds. Development, Displacement, and Disparity – India in the Last Quarter of the Century, Orient Longman. 
● (with Anasua Bhattacharya) "Surplus Labor in Indian Manufacturing: Evidence From the Annual Survey of Industries"; in an edited volume published by MacMillan. 
● (with T.T. Ram Mohan) "Comparing Performance of Public and Private Sector Banks": A Revenue Maximisation Efficiency Approach"; Economic and Political Weekly, March 20, 2004; 1271-1276. 
● (with Evangelia Desli and Subal Kumbhakar) ."Dynamic Stochastic Frontier Analysis"Applied Economics Letters; 2003; 10, 623-626. 
● (with Zhang Ping) "Technical Efficiency of the State Owned Enterprises in China (1980-1989): An Assessment of the Economic Reforms."; in Tendulkar,S.D., A. Mitra, K. Narayanan, and D.K. Das (eds) India: Industrialization in a Reforming Economy (New Delhi: Academic Foundation, 2005). 
● "Did India's Economic Reforms Improve Productivity and Efficiency in Manufacturing?" Indian Economic Review; Vol 37, No 1; 2002, 23-57. 
● "William W. Cooper: A Legend in His own Times"; Journal of Productivity Analysis, 17, 1-2, 2002, pp 7-12. 
● (with Kankana Mukherjee and Steve M. Miller) "Productivity Growth in Large U.S. Commercial Banks: The Initial Post-Deregulation Experience"; Journal of Banking and Finance, 25 (2001), pp 913-939. 
● (with Kankana Mukherjee) "Decomposition of Cost-Competitiveness in U.S. Manufacturing: Some State-by State Comparisons"; Indian Economic Review, Vol 35, No 2, 2000, pp 133-153. 
● "Measuring Scale Efficiency From a Translog Production Function", Journal of Productivity Analysis, vol 11, 1998, pp 183-194. 
● (with Kankana Mukherjee) "A Study of Size Efficiency in U.S. Banking: Identifying Banks that are too Large"; International Journal of Systems Science (1998), vol. 29, no. 11, pp 1281-1294. 
● (with Kankana Mukherjee) "Quantity, Quality, and Efficiency from a Partially Super-additive Cost Function: Connecticut Public Schools Revisited", Journal of Productivity Analysis , 10, 47-62, July 1998. 
● (with Evangelia Desli) "Productivity Growth, Technical Progress, and Efficiency Change in Industrialized Countries: Comment", American Economic Review, Vol 87, No. 5, Dec. 1997 pp 1033- 1039. 
● "A Weak Axiom of Cost Dominance: Nonparametric Measurement of Cost Efficiency Without Input Quantity Data"; Journal of Productivity Analysis,8, 151-165, May 1997. 
● "Regional Variation in Productivity Growth in Indian Manufacturing: A Nonparametric Analysis", Journal of Quantitative Economics, 13, No, 1, 73-94, January 1997. 
● (with Xiaowen Hu) "On the Technically Efficient Organization of an Industry: A Study of U.S. Airlines", Journal of Productivity Analysis, 8, pp 5-18, March 1997. 
● (with Kankana Mukherjee) "Decomposition of the Fisher Ideal Index of Productivity: A Nonparametric Dual Analysis of U.S. Airlines Data"; The Economic Journal, Vol.106, N0. 439, pp 1659-1678, Nov. 1996. 
● (with Kankana Mukherjee)"Comparing Parametric and Nonparametric Estimates of Efficiency: A Reexamination of the Christensen-Greene Data"; Journal of Quantitative Economics, 1995 pp 155-168. 
● (with H-J Kim) "Cost Efficiency in the U.S. Steel Industry: A Nonparametric Analysis Using D.E.A. ; European Journal of Operational Research, Vol. 80, 3, 1995, pp 654-671.
● (with Dipasis Bhadra) "Non-Parametric Tests of Cost-Minimizing Behavior: A Study of Indian Farms" ; American Journal of Agricultural Economics, Vol 73, November 1993, pp 990-999. 
● "Resource-Use Efficiency in Public Schools: A Study of Connecticut Data"; Management Science Vol 37, No. 12, Dec 1991, pp 1620-1628. 
● (with A. Noulas and S.M. Miller) "Returns to Scale and input substitution for Large U.S. Banks" Journal of Money, Credit, and Banking; 1990, pp 94-108. 
● (with Kathleen Segerson) "A Profit Function Approach to Measuring the Rate of Technical Progress: An Application to U.S. Manufacturing"; Journal of Productivity Analysis, Vol 2, Dec 1990, 39-52. 
● "Methods of Estimating the Input Coefficients for Linear Programming Models"; American Journal of Agricultural Economics 1985 pp 155-160. 
● "Measurement and Test of Efficiency of Farms in Linear Programming Models: A Study of West Bengal Farms"; Oxford Bulletin of Economics and Statistics 1985 pp 371-385. 
● "A Translog Cost Function Analysis of U.S. Agriculture 1939-77"; American Journal of Agricultural Economics, 1982; pp 490-498.

Journal Editorship

Current:
● Senior Editor, The DEA Journal 
● Associate Editor: Journal of Productivity Analysis

Past:
● Served as a guest editor of a special issue of Indian Economic Review 2010. 
● Served as a guest editor of a special issue (on Productivity and Efficiency) of Indian Economic Review 2004. Served as a guest editor of a special issue of Journal of Productivity Analysis in 2002.