Prof. Sarthak Gaurav

Associate Professor
211, Shailesh J. Mehta School of Management, I.I.T.Bombay, Powai, Mumbai



Prof. Sarthak Gaurav

Research Interests

Agriculture, Behavioural Economics, Development Economics, Risk and Insurance, Blockchain


Economics, Game Theory, Behavioural Economics, End-to-End Innovations


  • PhD Economics, IGIDR, Mumbai ( 2008–2012 )
  • Thesis: Risk and Vulnerability among Agricultural Households in India, Supervisors: Prof. Srijit Mishra, Committee Members: Prof. Shawn Cole, Harvard Business School, Prof. Sripad Motiram, IGIDR, 
  • Visiting Doctoral Scholar, Wharton School, University of Pennsylvania ( 2011 )
  • MSc Economics, Indira Gandhi Institute of Development Research (IGIDR), Mumbai ( 2005–2007 )
  • BA Economics (Hons.), BJB College, Utkal University, Bhubaneswar ( 2002-2005 )

Work Experience

  • Associate Professor, Economics Area, SJMSOM, IIT Bombay (April 2022- ) 
  • Assistant Professor, Economics Area, SJMSOM, IIT Bombay ( Sep 2015 – 2022 ) 
  • Affiliate Faculty, Centre for Policy Studies, IIT Bombay ( 2017 – )
  • Research Associate, Centre de Sciences Humaines, New Delhi ( Sep 2014 – Aug 2015 )
  • Postdoctoral Researcher (Palanpur Study), Asia Research Centre, London School of Economics (LSE) (Mar 2013 – Sep 2014)
  • Research Assistant, Centre de Sciences Humaines, New Delhi ( Nov 2012 – Mar 2013 )
  • Doctoral Research Associate, Centre for Microfinance (CMF), IFMR Chennai ( 2009-2012 )
  • Development Consultant, Centre for Insurance and Risk Management (CIRM), IFMR, Chennai ( 2007–2008 )

Research Grants and Projects

  1. 2022 GISE Hub, IIT Bombay, DST (with Profs. Milind Sohoni, Umesh Bellur, Avik Bhattacharya, Satish Agnihotri)
  2. 2022 IPOG Jurisdictional Case Study, Maharashtra – World Bank Country Office
  3. 2022 SERB-MATRICS Award: ‘A Randomized Control Trial (RCT) of Effect of Contractual Design Changes on Weather Insurance Adoption’
  4. 2022 HMIS Analyzer, KCDH
  5. 2022 ICSSR Major Project Grant: ‘Is Climate Smart Agriculture really smart: An evaluation of CSA as an adaptation option in Odisha, India’ (with Trupti Mishra)
  6. 2021 UNICEF – CTARA CoE in Child Nutrition (ChiNu) (with Satish Agnihotri and Arnab Jana), UNICEF
  7. 2021 WeCan Child Nutrition Data Support Unit1 (with Satish Agnihotri)
  8. 2021 RuTAG: ‘Dissemination of Mobile Subjee Cooler in Andhra Pradesh Maharashtra & Odisha’, Office of the Principal Scientific Advisor (PSA) to the Government of India, DST
  9. 2021 QMU-CPS Domestic violence study 1 (with Satish Agnihotri), Queen Mary’s University, University of London
  10. 2019 Behavioural Lab at SJMSOM, IIT Bombay (RIFC funding and SJMSOM Endowment Fund), with Prof. Arti Kalro
  11. 2019 ICSSR IMPRESS Award: ‘Risk and Vulnerability of Agricultural Households: A Longitudinal Study in Vidarbha, Maharashtra’
  12. 2017 University of Chicago Delhi Center grant for study on “Characterising the Skill Space in India’s Urban Informal Market” with James Evans and Nandana Sengupta
  13. 2016 IIT Bombay-IRCC Seed Grant for study on “Weather Risks, Income Shocks, and Technology Adoption in Rural Maharashtra”
  14. 2015 ICSSR Research Grant for study on “Knowledge, Perception and Usage of Pesticides: Study among Cotton Farmers in Andhra Pradesh and Maharashtra” Co-PI with Thiagu Ranganathan and T.V.Venkateswaran
  15. 2011 Principal Investigator, ILO Microinsurance Innovation Facility Research Grant (10,000 USD) ‘Complementarities in Index-based Weather Insurance’ (with Ashish Singh and Thiagu Ranganathan).
  16. 2010 Young Scientist, Risk and Vulnerability Group, International Institute for Applied Systems Analysis (IIASA).
  17. 2009 Principal Investigator, ILO Microinsurance Innovation Facility Research Grant’ Impact of Financial Literacy on Rainfall Insurance Adoption’ (with Shawn Cole, Harvard Business School).
  18. 2009 Doctoral Research Associate, Centre for Microfinance (CMF), IFMR, Chennai.
  19. 2006 Research Intern, UNDP Project on Strengthening State Plans for Human Development, Mumbai.

Peer Reviewed Publications

  1. Dalal R., Fancy M.K, Chaudhary S., Abraham M., Vir S.C, and Gaurav S (2023) Establishment of cross-cradle hold technique combined with intensive breastfeeding counselling positively impacts the weight gain rate in early infancy. Maternal & Child Nutrition Oct;19(4): e13529. doi: 10.1111/mcn.13529.101111
  2. Balani K, Gaurav S, and A. Jana (2022) Spending to grow or growing to spend? Relationship between public health expenditure and income of Indian states. SSM Population Health 15;21:101310. doi: 10.1016/j.ssmph.2022.101310
  3. Sheikh, R.A., Gaurav, S., and T. Mishra (2023) Caught in a time warp: evidence from time use of Indian women. International Journal of Social Economics. February 2023. doi: 10.1108/IJSE-03-2022-0164 
  4. Berman. P, Cameron, M.A., Gaurav, S., Gotsadze, G., Hasan, M.Z., Jenei, K., Keidar, S., Kornreich, Y., Lovato, C., Patrick, D.M., Sarker, S., Sosa-Villagarcia, P., Sriram, V. and C. Ruck. (2023) Improving the response to future pandemics requires an improved understanding of the role played by institutions, politics, organization, and governance. PLOS Global Public Health  January 20, 2023 doi: 10.1371/journal.pgph.0001501 
  5.  Sengupta, N., Gaurav, S., & Evans, J. (2021) The Skills Space in Informal Work: Insights from Bangalore Slums. Journal of Development Studies, 57(10), pp.1662-1689.
  6. Sheikh, R., Gaurav, S., & Mishra, T. (2021) Race among equals? An inquiry into the segmentation of Indian labor market. Review of Development Economics, 32(4), pp.1105-1127.
  7. Gaurav, S. (2021). Dynamic Inconsistency and Incentive Design: Insights from Behavioural Economics for HR Managers. NHRD Network Journal, 14(2), pp.193–205
  8. Chhimwal, B., Bapat, V., & Gaurav, S. (2021). Investors’ Preferences and the Factors Affecting Investment in the Indian Stock Market: An Industry View. Managerial Finance, 47(5), pp.723-744.
  9. Gaurav, S. & Sheikh, R.A. (2020). The Road Not Taken: Who Works as a Doctor or Engineer in India? Journal of Education and Work, 33(3), pp.254-270.
  10. Sheikh, R.A. & Gaurav, S. (2020). Informal Work in India: A Tale of Two Definitions. European Journal of Development Research, 32(4), pp.1105-1127.
  11. Gaurav, S. & Chaudhary, V. (2020). Do Farmers Care About Basis Risk? Evidence from a Field Experiment in India. Climate Risk Management, 27(2020).
  12. Gaurav, S. & Sheikh, R.A. (2019). The Real Chowkidars of India: Lives Behind the Metaphor. Economic and Political Weekly, 54(47), pp.15-17.
  13. Ranganathan, T. & Gaurav, S. (2019). The Curious Case of Cocktails, Weedicides, and Tonics Pest Management Practices of Cotton Farmers in Vidarbha. Economic and Political Weekly, 54(44), pp.51-54.
  14. Gaurav, S. (2019). Policies Need a Cautious Nudge. Economic and Political Weekly, 54(39), pp.13-16.
  15. Gaurav, S. (2019) The Market for Cryptocurrencies: An Ode to Hayek. Economic and Political Weekly, 54(2), pp.12‐15.
  16. Ranganathan, T., Gaurav, S., & Halder, I. (2018) Pesticide Usage by Cotton Farmers: Changes over a Decade. Economic and Political Weekly, 53(19), pp.43-51.
  17. Ranganathan, T., Gaurav, S., & Singh, A. (2018) Anomaly in Decision Making under Risk: Violation of Stochastic Dominance among Farmers in Gujarat, India. IIMB Review, 30(3), pp.258-269.
  18. Gaurav, S. & Krishnan, J. (2017) How Efficient are India’s Cooperative Banks? Evidence from DCCBs’, Economic and Political Weekly, 52(12), pp.115-124.
  19. Ranganathan, T., Gaurav, S., & Singh, A. (2016) Demand for Price Insurance among Farmers in India: A Choice Experiment-Based Approach, Margin: The Journal of Applied Economic Research, 10:2, pp. 198-224.
  20. Gaurav, S. (2015) Are Rainfed Agricultural Households Insured? Evidence from Panel Data in Village Vidarbha, India. World Development, 66, pp. 719-736.
  21. Gaurav, S., & Mishra, S. (2015) Farm Size and Returns to Cultivation in India: Revisiting and Old Debate’, Oxford Development Studies, 43(2), pp.165-193.
  22. Singh, A., Gaurav, S., & Das, U. (2014) Household Headship and Academic Skills of Indian Children: A Special Focus on Gender Disparities, European Journal of Population, 29(4), pp. 445-466.
  23. Gautam, V., Gaurav, S., & Singh, A. (2014) Cash Holdings and Finance Constraints in Indian Manufacturing Firms. Research in Applied Economics, 6(3), pp.56-75.
  24. Ranganathan, T., & Gaurav, S. (2013) An Inquiry into the Composition of Farm Revenue Risk: The Case of Six Western Vidarbha Districts. Economic and Political Weekly, 48(26:27), pp. 125-128.
  25. Gaurav, S., & Singh, A. (2012) An Inquiry into the Financial Literacy and Cognitive Ability of Farmers: Evidence from Rural India. Oxford Development Studies, 40 (3), pp. 358-380 (Winner of the Sanjay Lall Student Prize 2011-12).
  26. Gaurav, S., Cole, S., & Tobacman, J. (2011) Marketing Complex Financial Products in Emerging Markets: Evidence from Rainfall Insurance in India. Journal of Marketing Research, 48(S), pp.150-162.

Workshop Organized

  •        Reimagining Risk and Vulnerability in Indian Agriculture, IoE Outreach Workshop at IIT Bombay, March 10-11, 2023

Book/Research Monographs

Book Chapters

2018 ‘Changing Activities, Changing Markets: Agriculture’ (with Himanshu), in Himanshu, Peter Lanjouw and Nicholas Stern, How Lives Change: Palanpur, India, and Development Economics, Publisher: London: Oxford University Press, pp.161-195.

2016 ‘Land Ownership and Tenancy in Odisha’, in: Prasanta Pattanaik, Santosh Panda and Pulin Nayak (eds.) The Economy of Odisha: A Profile. New Delhi: Oxford University Press (with Srijit Mishra), pp.54-86.

2014 ‘To Bt or Not to Bt: Risk and Uncertainty Considerations in Technology Assessment’, in: N.Lalitha and P.K.Viswanathan (eds.), India’s Tryst With Bt Cotton, Concept: New Delhi.

Book Reviews

Gaurav, S. (2020). Reconstructing Law and Economics: Review of The Republic of Beliefs, Kaushik Basu. Economic and Political Weekly ,55(17), pp.23-25.

Gaurav, S. (2009) Crisis in Indian Agriculture: Review of Agrarian Crisis in India, Reddy, .N. and S. Mishra (eds.), Indian Journal of Labour Economics, 52(1), pp.180-84.


2023 Fellow of the Royal Society of Arts (FRSA)

2011 Visiting Doctoral Scholar, Wharton School, University of Pennsylvania

2011 Reserve Bank of India Fellowship for 4th Lindau Nobel Laureate Meetings (Economic Sciences), Lindau, Germany, 2011

2010 Young Scientist Summer Programme (YSSP) Fellow, International Institute for Applied Systems Analysis (IIASA), Laxenburg, Austria

2008–2012 Doctoral Fellowship, IGIDR, Mumbai.

Academic Supervision

  1. Subodh Vinchurkar, SJMSOM, IIT-Bombay, 2022-till date
  2. Shweta Kalla, SJMSOM, IIT-Bombay, 2022-till date (with Prof.Usha Ananthakumar)
  3. Vrishal Yelegaonkar, ADCPS, IIT-Bombay, 2022-till date
  4. Trupti Patil, ADCPS, IIT-Bombay, 2022-till date (with Prof.Arnab Jana)
  5. Rayees Ahmad Sheikh (Doctoral Candidate, IIT Bombay, 2016 – ), Thesis: Essays on Indian Labour Market (Co-Guide: Prof.Trupti Mishra)
  6. Rohit Samuel Shah (Doctoral Candidate, IIT Bombay-Monash Academy, 2017-), Thesis: Evaluation of NRHM (Co-Guides: Prof.Jane Fisher, Prof.Tara Shankar Shaw)
  7. Khushboo Balani (Doctoral Candidate, CPS, IIT Bombay, 2018 – ), Thesis: Essays on Public Health in India, (Co-Guide: Prof.Arnab Jana)
  8. Ramraj Bharti (Doctoral Candidate, CPS, IIT Bombay 2019- ), Thesis: Behavioural Economics and Policy Design
  9. Neha Durga (Doctoral Candidate, CPS, IIT Bombay, 2019 -) Thesis: Solarisation of Irrigation in India: Drivers, Opportunities and Threats
  10. Neha Adsul, Post-doctoral Fellow, CPS (2020-)

Committee & Administrative Roles

  • VP, SOMA, SJMSOM, IIT Bombay (2020 – )
  • Member, IDPC (CPS), IIT Bombay (2020 – )
  • Member, Faculty Recruitment Reforms Committee, SJMSOM (2020 – )
  • Member, Institute Ethics Committee, IIT Bombay (2019 – )
  • Member, Strategy Committee, SJMSOM, IIT Bombay (2018)
  • Member, Committee for Restructuring MMgt Programme at SJMSOM (2017)
  • Faculty Coordinator, E-Club, SJMSOM, IIT Bombay (2016- )
  • Convener, Faculty Search Committee, SJMSOM, IIT Bombay (2016-2019)
  • Convener, Doctoral Consortium, SJMSOM, IIT Bombay (2016)
  • Convener, SJMSOM-Monash Business School Joint Workshop (2019)
  • Member, Sub-Committee for UG/PG Economics, Symbiosis International University, Pune (2017-)
  • Member, Board of Post-graduate Studies (Economics), St.Xaviers College, Mumbai (2020)


  • Best Undergraduate in the Arts Stream and Best Undergraduate in Economics Trophy, BJB College, Bhubaneswar (2005)
  • Gold Medal in Undergraduate Economics (Hons.), BJB College, Bhubaneswar (2005)
  • Gold Medal in Political Science, BJB College, Bhubaneswar (2005)
  • Best Undergraduate in Statistics, BJB College, Bhubaneswar (2005)
  • Gold Medal, 6th National Children’s Science Congress; Team Leader for 86th Indian Science Congress (1998-99), Chennai
  • CBSE Merit Certificate for securing 100 in Science (2000)


Economic Modeling, Journal of Human Resources, World Development, Agricultural Economics, Journal of Banking and Financial Technology, International Journal of Rural Management, Palgrave Macmillan


Rukart Technologies (Agrictech Startup from IIT Bombay)

D-Matrix Development Foundation, Wardha