Deepal Basak grew up in a small town called Malda in West Bengal, India. He attended St. Xavier’s College, Kolkata and after graduation, he moved to Delhi to study Quantitative Economics at the Indian Statistical Institute. That was when he realized that he wanted to be a researcher and work on Game Theory, so he travelled to New York to earn his Ph.D. from New York University.
“When we make strategic decisions, we often create inefficiency in an economic system,” says Basak. “I like to understand such inefficiencies and, if possible, try to figure out some practical solutions to improve the situation. For instance, I look into how a regulator could help reduce market panic.”
Basak appreciates Kelley’s vibrant research environment, not to mention the impressive students.
Deepal Basak, BEPP Professor
“I’m having fun teaching what I like,” says Basak, who teaches Game Theory to undergraduate and MBA students, maintains that he mostly follows the “learning by doing” approach. In other words, students learn about strategic thinking by participating in classroom games. One he plays is called the Takeover Game in which the computer randomly assigns some students as the owner of a company and other students as potential buyers/bidders. The computer tells the owner how much money they are currently earning but does not tell the bidder.
“The students typically bid more than they should and lose money,” says Basak. “Then we discuss the strategic mistake. We forget to account for the fact that the owner sells only if she does not earn much. Then we learn about strategic thinking under asymmetric information.”
Married for eight years to Pragya Singh, a health economist who works in health policy research, Basak says the pair have been friends for 11 years. When they first tied the knot, Basak lived in New York while his wife was in North Carolina. They were still graduate students at the time. Pragya then moved to New York for work. However, shortly after that, Deepal relocated to India.
“We both have been flying back and forth (16-hour flights from Delhi to New York) for the last three years,” says Basak. Living in different cities is tough enough but residing on different continents takes it to a whole other level. In 2020, however, they finally started living together in Bloomington.
“It’s a beautiful place, and the people are polite and friendly,” says Basak. “I enjoy my walk to campus, especially in the fall and the spring.”
A former football (soccer) team captain in school, he also played A-division football for a club. He likes painting, theatre (e.g., “Girls and Boys” written by Dennis Kelly and performed by Carey Mulligan), movies (e.g., those by Satyajit Ray & Jafar Panahi), TV shows (e.g., Yes Minister & The West Wing), and stand-up comedy (e.g., George Carlin).
“I love a home-cooked Bengali meal,” says Basak. “However, I also love trying different cuisines.”
When not in a global pandemic, the pair enjoy traveling. Several years ago, when they went to Switzerland, they missed a train and accidentally ended up in a small hill station called Lauterbrunnen. It turned out to be the most pleasant mishap of the trip.
“We loved this place and hope to go back there one day,” says Basak. “It had breathtaking scenery that included small cottages, mountains, and waterfalls. It was not a typical tourist destination yet was the perfect place to relax.”
As for his professional goals for the future, Basak wants to impact his field of research.
“If I look back at my research ten years down the line, I want to feel that I have made a substantial contribution,” he says.
Leave a Reply