Gopal Basak




Updated January 16, 2019

Research Interests

 Probability: Probability Models, Stochastic Processes, Diffusion Approximation
 Statistics: Estimation, Forecasting, Asymptotics
 Finance: Portfolio Optimization, Dynamic models, Capital Flow, Business Political Cycle

Recent publications


    Probability & Statistics:


  • Chakraborty Ashis Kumar, Gopal K. Basak and Suchismita Das (2019) "Bayesian optimum stopping rule for software release," OPSEARCH, (link)
  • Gopal K. Basak, Arnab Bhattacharjee and Samarjit Das (2018) "Causal ordering and inference on acyclic networks," Empirical Ecnonomics, 55, Issue 1, pp. 213-232. (link)
  • Basak, Gopal K.; Das, Samarjit (2017) Intercept homogeneity test for fixed effect models under cross- sectional dependence: some insights," J. Econom. Methods., 6, No. 1, 22 pages. (link)
  • Basak, G. K.; Biswas, Arunangshu (2016) "Langevin type limiting processes for adaptive MCMC," Indian J. Pure Appl. Math.} 47, No. 2, 301-328. (link)
  • Dewanji A, Basak G.K. and Biswas A (2015) Nonparametric Estimation of Maximum Tolerated Dose (MTD) in the Context of Phase I Clinical Trials," Calcutta Statistical Association Bulletin, 67, pp 15-34. (link)
  • Pal, A., Bose, S., Basak, G.K. and Mukhopadhyay Amitava (2014) "Speaker Identification by Aggregating Gaussian Mixture Models (GMMs) based on Uncorrelated MFCC-derived Features," International Journal of Pattern Recognition and Artificial Intelligence, 28, Issue 04, 25 pages. (link)
  • Basak, G.K. and Volkov, Stas (2013) "Snakes and perturbed random walks," Proceedings of Steklov Institute of Mathematics (Russian and English versions), 282 Issue 1, 35-44. (arXiv)
  • Basak, G.K. and Biswas, Arunangshu (2013) "Process convergence of self-normalized sums of i.i.d. random variables coming from domain of attraction of stable distributions," Proceedings of Indian Academy of Sciences (Mathematical Sciences), 125, No. 1, 85-100. (arXiv)
  • Basak, G.K., Biswas, A. and Volkov, S. (2009) "An urn model for odds ratio based response-adaptive phase III clinical trials for two or more treatments," Journal of Biopharmaceutical Statistics, 19, Issue 5, 838-856. (pubmed)
  • Basak, G.K., Biswas, A. and Volkov, S. (2008) "An urn model and the odds ratio-based design for clinical trials," Markov Processes and Related Fields, 14, No. 4, 571-582. (pdf)
  • Basak, G.K. and Lee, P. (2008) Asymptotic properties of an estimator of the drift coefficients of multidimensional Ornstein-Uhlenbeck processes that are not necessarily stable," Electronic Journal of Statistics, 2, 1309-1344. (EJS)
  • Basak, G. K., Chung, L.-C. and Lau, K.-H. (2008) "On the Predictive Nature of Absolute Changes," Calcutta Statistical Association Bullatin, 60, Nos. 239-240, pp.195-217. (pdf)




  • Gopal K. Basak, Pranab KumarDas and Allena Rohit "Coupled dynamics with an external system and application to international finance," Physica A: Statistical Mechanics and its Applications, (link)
  • Gopal K. Basak, Mrinal K. Ghosh and Diganta Mukherjee (First online, Sep. 2017) "A Stochastic Model with Inflation, Growth and Technology for the Political Business Cycle," Computational Econonomics. (link)
  • Basak, G.K., Das, P.K. and Rohit Allena (2017) "Capital inflow-terms of trade 'nexus': Does it lead to financial crisis?" Economic Modelling. 65, pp. 18-29. (link)
  • Gopal K. Basak, Mrinal K. Ghosh \& Diganta Mukherjee (2016) "A mean-reverting stochastic model for the political business cycle," Stoch. Anal. Applns., 34, No. 1, pp. 96-116. (link)
  • Basak, G.K., Das P.K. and Marjit, S. (2012) "Foreign capital inflow, exchange rate dynamics and potential financial crisis," Invited paper, Current Science, 103 NO. 6, 673-684.
  • Basak, G.K., Ghosh, M.K. and Mukherjee D. (2011) "Influence of Big Traders on the Stock Market: Theory and Simulation," Dynamic Games and Applications, 1 No. 2, 220-252. (link)
  • Basak, G.K., Ghosh, M.K. and Goswami, A. (2011) "Risk Minimizing Option Pricing for a Class of Exotic Options in a Markov-Modulated Market," Stochastic Analysis and Applications, 29 No. 2, 259-281. (link)
  • Basak, G.K., Jagannathan, R. and Ma, T. (2009) "A Jackknife Estimator for Tracking Error Variance of Optimal Portfolios," MANAGEMENT SCIENCE, 55, No. 6, 990-1002. (link) With e-companion, MANAGEMENT SCIENCE, (link)
  • Basak, G. K. , Ghosh, M. K., Mukherjee, D. (2009) "Equilibrium and Stability of a Stock Market Game with Big Traders," Differential Equations and Dynamical Systems, 17, No. 3, 283-299. (link)
  • Publication in Books and Refereed Proceedings
  • Basak, G.K., Ghosh, M.K. and Mukherjee D. (2010) "Can the Big Traders Control an Underdeveloped Stock Market?" A Collection of Essays in Finance, eds. B. Bhattacharya & M. Roy (eds.), 77-97. Allied Publishers, Kolkata.
  • Basak, G.K. and Mukherjee D. (2008) "Risk-Neutral Pricing: Importance and Relevance," Encyclopedia of quantitative Risk Assessment and Analysis by Melnick E. Everitt B. (eds)., pp. 1569-1574. John Wiley & Sons Ltd., Chichester, U.K.



    Editorial Activity

      Editor of Sankhya, (the Indian Journal of Statistics), Series A (March 2016 - December 2018)
      Member of the Editorial Board of Proceedings - Mathematical Sciences (Since January 2019)


    Under Construction