Luis Rayo has written theoretical articles on a wide range of topics, including contract theory, incentives in firms, social status, voting in legislatures, and the biology of happiness. His research goal is to domesticate complex problems using the insights of economics. "The economic way of thinking," he explains, "is the best one available to the human mind. My research uses this way of thinking to attack complex - yet vital - problems, such as human happiness." Rayo believes teaching forces him to distill his research so it can be communicated to a wider audience, making it better.
Rayo's work includes "Evolutionary Efficiency and Happiness" with Nobel laureate Gary Becker, which appeared in the Journal of Political Economy; "Peer Comparisons and Consumer Debt," published in the University of Chicago Law Review; "Relational Incentives and Moral Hazard in Teams," in the Review of Economic Studies; and "Habits, Peers, and Happiness: An Evolutionary Perspective" with Gary Becker, in AER Papers and Proceedings. He has presented his research in prestigious universities all over the world.
His work earned him a spot on the European Tour of the Review of Economic Studies in 2002. He is a referee for a number of academic journals, including the Journal of Political Economy, Econometrica, the American Economic Review and the Review of Economic Studies.
Rayo earned bachelor's and master's degrees in economics from the Instituto Technologico Autonomo de Mexico in 1998 and a PhD in economics from Stanford University in 2002. He joined the Chicago Booth faculty in 2002.
Outside of academia, he enjoys tennis, yoga, and general science.
Selected Publications
With Gary Becker, "Evolutionary Efficiency and Happiness," Journal of Political Economy. "Habits, Peers, and Happiness: An Evolutionary Perspective," American Economic Review P&P. "Peer Comparisons and Consumer Debt," University of Chicago Law Review. Ph.D. Thesis: "Relational Incentives and Moral Hazard in Teams," Review of Economic Studies. Master's Thesis: "Banking Crises and Deposit Insurance," Gaceta de Economía. Undergraduate Work: "Signs of Rationality behind Physical Discrimination in Night Clubs," Gaceta de Economía.
