Why do some people land the best assignments, secure ideal work schedules, and gain access to busy leaders while others miss out? The answer lies not in luck, but in the hidden rules that determine who gets what in the presence of scarcity.

In this Wharton Online Authors Series course based on his book Lucky by Design, Wharton Professor Judd Kessler translates the science of market design into practical strategies for professional and everyday life. You will learn to recognize hidden markets, identify the rules shaping access, and choose the best strategies given those rules. You will then shift from participant to designer, evaluating how the systems you influence could become fairer, more efficient, easier to navigate, and better aligned with the market designer’s goals.

  This course gives you frameworks to understand how scarce opportunities are allocated, insights to participate more strategically, and tools to improve the systems you influence or control. By the end of this course, you will be able to:

• Identify hidden markets by recognizing scarce resources, excess demand, and the non-price rules that determine access
• Classify allocation rules, including first-come, first-served races, lines, and waiting lists; lotteries; two-sided markets; and centralized clearinghouses
• Evaluate how well a hidden market performs using the criteria of equity, efficiency, and ease
• Identify optimal participant strategies for the rules at play, such as preparing for a race, sending a credible signal, or reporting preferences truthfully
• Recommend practical improvements that advance equity, efficiency, and ease while supporting the market designer’s goals
• Anticipate how participants may respond to incentives, rule changes, and proposed redesigns
• Create a Hidden Market Action Plan or Hidden Market Design Toolkit you can use after the course

Faculty

Judd B. Kessler, PhD

Howard Marks Endowed Professor; Professor of Business Economics and Public Policy, The Wharton School