Unveiling Hidden Markets: A Glimpse into the Unseen Forces Shaping Everyday Life

Have you ever wondered how certain people seem to effortlessly snag reservations at the trendiest restaurants or secure coveted spots at elite institutions? Wharton economist Judd Kessler is set to unlock these mysteries on Tuesday, Nov. 4 at 4:30 p.m. in Lewis Auditorium, Goldwin Smith Hall. As the author of “Lucky by Design: The Hidden Economics You Need to Get More of What You Want,” Kessler will delve into the covert markets that intricately dictate the distribution of opportunities in your day-to-day life.

The Enigma of Hidden Markets

Contrary to popular belief, Kessler argues that nailing down exclusive restaurant bookings or even life-altering organ transplants is not purely a game of chance nor of monetary bids, as widely discussed in economics lessons. These are orchestrated by what he calls hidden markets, where the outcomes depend heavily on the mechanics of choice and the underlying rules guiding these markets.

Insightful Perspectives Await

Event co-organizer Ted O’Donoghue enthusiastically notes, “We’re fortunate to have Judd Kessler here to share his unique perspectives on maneuvering through such markets.” This sentiment is echoed by Heather Schofield, assistant professor of applied economics, who recognizes Kessler’s ability to offer a fresh lens on achieving goals in various marketplaces encountered in life.

A Distinguished Economist on the Forefront

Kessler brings an impressive academic background to the discussion, being the Howard Marks Endowed Professor at the Wharton School. His distinct approach intertwines laboratory and field experiments to study the motivational economics behind public goods contribution and market design innovations.

Achievements and Influences

Judd Kessler’s contributions to the field have not gone unnoticed. His work has earned him accolades including being named in Forbes’ “30 under 30” and awarded the Vernon L. Smith Ascending Scholar Prize for his groundbreaking work on organ allocation systems. His theories and research findings have spread far beyond academia, garnering attention in prominent publications like The New York Times and The Wall Street Journal. As stated in Cornell University, “Kessler’s innovative approach is reshaping how we view and interact with unseen economic forces.”

Co-sponsorship and Support

This insightful talk is co-sponsored by the Department of Economics in the College of Arts & Sciences and the Dyson School of Applied Economics and Management at the Cornell SC Johnson College of Business.

For those ready to explore the hidden undercurrents of economics and master the art of navigating them, Judd Kessler’s talk promises to be an enlightening journey into the unseen markets that shape our reality.