Judd Kessler
The Architect
Structured and legacy-driven; builds the systems and institutions that last.
Judd Kessler, Wharton professor of behavioral economics and market design, embodies The Architect through his method of exposing the hidden structural logic that governs how scarce resources get distributed, in formal markets and in everyday life alike. His insistence on decoding allocation rules before crafting strategy is a builder's instinct: read the blueprint, then redesign your position within it.
“Say it's an opt out system. So I should pause and say we can't do that in the US without a major law change because Oregons fall under the GIFT Act. So you have to actually make an affirmative statement that you want it. You could make it salvage law. So if you're not using it, we can take it, right? But people might not want to do that.”
“So this was But I wanted to work with Al. So I kind of cheated a little bit. I went back to Harvard, but it was technically a Harvard business school PhD joint with the Econ Department. So I pretended, oh, I'm getting a different angle on this.”
“And so, when you mentioned early admissions, early decision, or early action, that is where this kind of yield question comes into play. So the way that it works with early decision is when you apply, say, to Pen, where my employer early decision, if you do that, you are committing to come if we admit you.”
“Winning. And so as a result, folks are kind of constantly applying to these lotteries because that's the only way that you're going to have a chance of getting something is if you're applying to every possible lottery. But then there's all these inefficiencies that can crop up. Maybe I win a lottery.”
Masters in Business: “Maximizing Luck: Masters in Business with Judd Kessler”
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