Avinash Dixit, Economist
Economist

Avinash Dixit

Born 6 August 1944 · Maharashtra

Co-authored the influential textbook 'Theory of Games and Economic Behavior' advancing game theory.

Avinash Kamalakar Dixit is an Indian-American economist. He is the John J.F. Sherrerd '52 University Professor of Economics Emeritus at Princeton University. He has been a distinguished adjunct professor of economics at Lingnan University, senior research fellow at Nuffield College, Oxford and Sanjaya Lall Senior Visiting Research Fellow at Green Templeton College, Oxford.

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A detail that
surprised us

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Avinash Dixit's 1975 paper on second-best optimum tax theory remains a cornerstone in public economics and is cited extensively in tax policy design studies.

The Story

1
In 1963, Avinash Dixit graduated with a B.Sc. in Mathematics and Physics from St. Xavier's College, University of Mumbai, setting the foundation for his analytical approach to economics.
2
🌟 By 1968, he had earned a Ph.D. in Economics from MIT, a pivotal institution that shaped his future research blending rigorous math with economic theory.
3Dixit's academic journey took him from assistant professor at UC Berkeley to fellow at Balliol College, Oxford, before he finally settled at Princeton University in 1981, where he became the John J.F. Sherrerd '52 University Professor of Economics.
4In 1975, Dixit published a groundbreaking paper on second-best optimum tax theory that redefined welfare economics and influenced tax policy frameworks worldwide.

🏅 Awards & Honours

—
Padma Vibhushan

🔍 One thing most people don't know

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In 1965, Dixit graduated with First Class honors in Mathematics from Corpus Christi College, Cambridge, a rare achievement for an Indian student in that era.

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Through the Years

1 photograph from the archives
Avinash Kamalakar Dixit receiving the Padma Vibhushan Award from President Pranab Mukherjee in New Delhi (2016)
Avinash Kamalakar Dixit receiving the Padma Vibhushan Award from President Pranab Mukherjee in New Delhi (2016)
2016

🗓️ A Life in Moments

🕊️
Birth
Born in Bombay (Mumbai), Maharashtra
Avinash Kamalakar Dixit was born in Bombay, setting the stage for his future as a globally influential economist.
1944
📚
Education
Graduated B.Sc. in Maths & Physics
Completed undergraduate studies at St. Xavier's College, University of Mumbai, majoring in Mathematics and Physics.
1963
📚
Education
Earned B.A. in Mathematics at Cambridge
Graduated from Corpus Christi College, Cambridge with First Class honors in Mathematics.
1965
📚
Education
Ph.D. in Economics from MIT
Completed doctoral studies in Economics at the Massachusetts Institute of Technology.
1968
📖
Publication
Published key paper on second-best tax theory
Released foundational work 'Welfare effects of tax and price changes' in the Journal of Public Economics.
1975
⚡
Career
Joined Princeton University faculty
Started teaching at Princeton University, where he would become John J.F. Sherrerd '52 University Professor of Economics.
1981
🏅
Award
Received CES Fellow Award, Munich
Awarded by the Center for Economic Studies in Germany for his contributions to economic research.
1994
⚡
Career
President of Econometric Society
Led the international society of economists during this year.
2001
⚡
Career
President of American Economic Association
Served as head of the leading professional association of economists in the US.
2008
🏅
Award
Awarded Padma Vibhushan by India
Received India's second-highest civilian award for his lifetime contributions to economics.
2016
More moments to come...
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🗝️Discoveries

Swipe to uncover hidden stories
01 / 04
🔍LESSER KNOWN

Dixit held visiting scholar positions at the International Monetary Fund and the Russell Sage Foundation, bridging academic theory and practical policy applications.

02 / 04
🏆ACHIEVEMENT

He was president of the Econometric Society in 2001 and later president of the American Economic Association in 2008, rare leadership roles spanning two top economic societies.

03 / 04
🌍HISTORICAL IMPACT

Dixit's collaboration with economist Joseph Stiglitz in 1977 produced influential work on monopolistic competition and product diversity, topics central to modern industrial organization.

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🎙️ Speeches & Recordings

These recordings preserve the legacy of Bharat's icons
Dr. Mashelkar 01 August website launch Padma Vibhushan Dr Mashelkar, Padma Vibhushan Avinash Dixit
·YouTube

🌱 What changed because of them

Dixit's work redefined microeconomic theory by integrating game theory and strategic thinking into everyday economic decisions, influencing institutions like Princeton University and professional bodies such as the Econometric Society. His research on investment under uncertainty introduced the real options framework, which is now standard in corporate finance and policy planning. The Padma Vibhushan award underscored his role in connecting Indian economic scholarship with global academic discourse.

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