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Articles by Luis Rayo
Looking Beyond Cash to Motivate Employees Original
Summary Economists from the Kellogg School investigated if and when companies might benefit more from donating to a cause rather than offering cash alone to motivate their employees. Through theoretical modeling, they found that there can be significant financial upside for a company that donates more as its workers’ performance rises.
DP21432 The Social Media Externality
English Français Deutsch Italiano 中文 More Español Ελληνικά 日本語 Português Türkçe We develop a framework for understanding how social media can reduce both motivation and well-being. Curated social-media feeds raise the bar for feeling successful and distort how people learn about their capability from their own outcomes. Individuals may then work toward an unrealistic standard and misread poor results as evidence of low capability rather than as a consequence of biased comparisons.
Are Apprentices an Endangered Species?
Summary AI is getting increasingly effective at performing low-level tasks in the workplace, raising concern about the future of apprenticeships. Kellogg’s Luis Rayo and his colleague developed a mathematical model to better understand this evolving reality and found that the more tasks AI takes over from apprentices, the less viable apprenticeships become.
Are Apprentices an Endangered Species?
Summary AI is getting increasingly effective at performing low-level tasks in the workplace, raising concern about the future of apprenticeships. Kellogg’s Luis Rayo and his colleague developed a mathematical model to better understand this evolving reality and found that the more tasks AI takes over from apprentices, the less viable apprenticeships become.
Feedback Design in Dynamic Moral Hazard
Home | Faculty & Research Overview | Research We study the joint design of dynamic incentives and performance feedback for an environment with a coarse (all-or-nothing) measure of performance, and show that hiding information from the agent is expensive but may nonetheless be an optimal way to motivate effort.
El Amparo como garantía contra la violación al derecho de propiedad
¿Procede el Amparo contra una inscripción registral efectuada con base en un instrumento público falso? Con frecuencia se conocen casos de violación al derecho de propiedad y de despojo de bienes inmuebles mediante la utilización de instrumentos públicos falsos que de forma fraudulenta se inscriben en el Registro de la Propiedad.
Take 5: How to Become an Expert in Something New
So you want to become an expert in something new. Good for you! But how will you get started? And what can you expect along your journey? Whether you’re keen to become the next great artist, chef, programmer, or sommelier, read on. Here’s a roundup of some of our favorite research into what it takes to become an expert, and what happens when you get there. 1. Learn from Others Conventional wisdom says it can be useful to look over someone’s shoulder when you’re learning something new.
How to Design Contests That Motivate Employees
Strategy Jun 1, 2021 From innovation challenges to sales competitions, contests offer a powerful way to incentivize teams and individuals. In 2006, Netflix decided to hold an open contest to help improve its recommendation algorithm, Cinematch. Armed with user data, contestants competed to design an algorithm that could outperform Cinematch in predicting how users would rate a new movie based on their previous preferences.
Why Organizations Fail: Models and Cases
Abstract Organizations fail due to incentive problems (agents do not want to act in the organization's interests) and bounded rationality problems (agents do not have the necessary information to do so). This survey uses recent advances in organizational economics to illuminate organizational failures along these two dimensions. We combine reviews of the literature with simple models and case discussions.
Why Do Trainees Get Stuck with So Much Grunt Work?
Strategy Careers Economics Dec 4, 2018 There must be faster ways to get them up to speed. Yet grueling apprenticeships persist in medicine, law, and the trades. The master–apprentice relationship is iconic.
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