On November 4, 2023, at 16:30, Wharton economist Judd Kessler will present a lecture at Goldwin Smith Hall’s Lewis Auditorium, shedding light on the hidden markets that influence many aspects of daily life. Kessler, author of the book “Lucky by Design: The Hidden Economics You Need to Get More of What You Want,” will discuss how these markets operate and provide strategies for navigating them effectively.
Kessler’s exploration focuses on the idea that key life outcomes, such as obtaining reservations at popular restaurants, receiving job offers, securing admission into prestigious preschools or colleges, finding compatible partners on dating apps, and even accessing life-saving organ transplants, are not merely dependent on chance. Rather, he argues that these occurrences are determined by the choices individuals make and the underlying rules of the markets involved.
Understanding the Mechanics of Hidden Markets
In his talk, Kessler aims to illustrate that hidden markets function differently from traditional economic markets. While familiar markets often rely on pricing mechanisms, Kessler emphasizes that hidden markets operate on a different set of principles. According to Ted O’Donoghue, Zubrow Professor of Economics at the College of Arts and Sciences and co-organizer of the event, “In these types of hidden markets, what you get depends on the choices you make and the rules the market operates on.”
O’Donoghue expressed enthusiasm about Kessler’s insights, stating, “We’re fortunate to have Judd Kessler here to share his unique perspectives in maneuvering through such markets.” This lecture promises to provide attendees with valuable knowledge on how to effectively navigate these often-overlooked aspects of economics.
As interest in behavioral economics rises, Kessler’s work stands out, aiming to bridge the gap between theoretical understanding and practical application. His insights could prove beneficial for individuals seeking to improve their chances in various competitive scenarios.
The event is open to the public and will take place at Lewis Auditorium in Goldwin Smith Hall. Attendees can expect a thought-provoking discussion that challenges conventional perceptions of luck and opportunity.
For more information about this event, visit the College of Arts and Sciences website.
