About The Director

Korok Ray
Associate Professor
Director of the Mays Innovation Research Center

Korok is an Associate Professor at the Mays Business School of Texas A&M University, and Director of the Mays Innovation Research Center. He is a labor economist who researches the future of work. In particular, he investigates how computer science and machine learning can create better electronic labor markets that will become ever more common in a networked society.

Korok’s core area of research is performance measurement: the study of incentives, risk/reward, and compensation for human performance. This application includes executives, chief financial officers, financial traders, farmers, doctors, teachers, rank and file employees, bankers, and even athletes. His research seeks to create economic models of human behavior and to design incentive systems to achieve better outcomes for all. His tools are economic theory, data science, and some small doses of artificial intelligence.

Korok earned a BS in mathematics from the University of Chicago and a PhD in economics from Stanford University. He has taught at the University of Chicago and Georgetown University, as well as Texas A&M University. He also served on the Council of Economic Advisers of the White House from 2007 to 2009 during the historic financial crisis.

Hi Res Photo

Academic CV


2017 – Current
Director, Mays Innovation Research Center at Texas A&M
Mays Business School

2015 – Current
Associate Professor of Accounting (with tenure) Texas A&M
Mays Business School

2012 – 2015
Assistant Professor of Accounting, George Washington
School of Business

2008 – 2012
Assistant Professor of Accounting, Georgetown McDonough
School of Business

2007 – 2008
Senior Economist, Council of Economic Advisers
Executive Office of the President, Washington, DC

2004 – 2007
Assistant Professor of Accounting
University of Chicago


Ph.D, Economics, Stanford Graduate School of Business
Essays on Performance Evaluation

B.S. summa cum laude, Mathematics
University of Chicago

Research Interests

  • Performance Measurement
  • Compensation
  • Corporate Governance
  • Auditing
  • Cost Allocation
  • Disclosure
  • Financial Reporting


Working Papers and New Research

Performance Targets and Peer Comparisons: Theory and Evidence from CEO Pay
(with Adrienne Rhodes)

Nash Implementation Under Choice Functions

Effects on Accounting Conservatism on Investment Efficiency and Innovation
(with Volker Laux)

Team Incentives under Private Contracting

Limits to Auditor Reputational Incentives
(with Somdutta Basu)

Until Death Do Us Part? The Marriage Model with Divorce
(with Maris Goldmanis)

Optimal Performance Targets

Financial Disclosure and Managerial Incentives
(with Somdutta Basu)

Online Outsourcing and The Future of Work

Published Papers

An Evolutionary Basis for the Differential Treatment of Gains and Losses
(with Venky Nagar and Madhav V. Rajan, Review of Accounting Studies, Forthcoming)

Artificial Intelligence and Value Investing
(Journal of Investing, Forthcoming)

One Size Fits All? Cost and Benefits of Uniform Accounting Standards
(Journal of International Accounting Research, Spring 2018)

A Theoretical Framework for Evaluating Debtor-in-Possession Financing
(with Sandeep Dahiya, Emory Bankruptcy Developments Journal, 2017)

Balancing Difficulty of Performance Targets: Theory and Evidence
(with Michal Matějka, Review of Accounting Studies, September 2017)

A Non-Monetary Mechanism for Optimal Rate Control Through Efficient Delay Allocation
(with Tao Zhao and I-Hong Hou, 2017 15th International Symposium on Modeling and Optimization in Mobile, Ad Hoc, and Wireless Networks (WiOpt2017), Paris, France, May 2017)

Performance Monitoring by Managerial Teams
(with Pierre Jinghong Liang and Madhav Rajan, Journal of Centrum Cathedra:
The Business and Economics Research Journal
, 2016)

Reconciling Full-Cost and Marginal-Cost Pricing
(with Jacob Gramlich, Journal of Management Accounting Research, Spring 2016)

Risk and Volatility: A Differential View
(Journal of Investing, Winter 2016)

Sorting Effects of Performance Pay
(with Maris Goldmanis, Management Science, February 2015)
Online Appendix

Staged Investments in Entrepreneurial Financing
(with Sandeep Dahiya, Journal of Corporate Finance, July 2012)

Efficient Cost Allocation
(with Maris Goldmanis, Management Science, May 2012)

Robbing Peter to Pay Paul: Cuba’s Fifty Years of Failed Socialism
(Georgetown Journal of International Affairs, Summer/Fall 2009)

Optimal Team Size and Monitoring in Organizations
(with Pierre Jinghong Liang and Madhav V. Rajan, The Accounting Review, May 2008)

Performance Evaluations and Efficient Sorting
(Journal of Accounting Research, September 2007)

The Retention Effect of Withholding Performance Information
(The Accounting Review, March 2007)