New Books Network Judd B. Kessler, "Lucky by Design: The Hidden Economics of Getting More of What You Want" (Little, Brown Spark, 2025)
Jan 3, 2026
In this enlightening discussion, Judd B. Kessler, a business economics expert at Wharton, delves into his book, *Lucky by Design*. He reveals how hidden markets shape our access to everything from restaurant reservations to college admissions. Kessler explains the intricacies of market design, contrasting it with traditional pricing mechanisms. With insights on lotteries, early applications, and strategies for navigating competitive scenarios, he guides listeners on making better decisions in non-price-based systems. Learn how to gain an edge through understanding these often-overlooked dynamics!
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Harvard Course That Changed His Career
- Judd describes taking Alvin Roth's PhD-level course as an undergrad despite inconvenient timing.
- That exposure launched his interest in market design and influenced his career path.
Markets Beyond Price
- Many markets clear by price, but many scarce goods are allocated without price.
- Hidden markets use rules and strategies rather than money to decide who gets what.
Why Sellers Keep Prices Low
- Sellers often keep prices below market-clearing to generate demand or social proof.
- Excess demand can create buzz and long-term benefits beyond immediate revenue.