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December 13, 2025 • 57 mins

In this episode I want to dig into a source of injustice in the world—hidden markets—where who you know is often more important than what you know. My guest has spent his life highlighting these hidden systems that silently maintain inequity. Strap in for The Rational View on hidden markets.

Judd B. Kessler is an award-winning teacher and the inaugural Howard Marks Endowed Professor of Business Economics and Public Policy at the University of Pennsylvania’s Wharton School. In 2021, Kessler was awarded the prestigious Vernon L. Smith Ascending Scholar Prize for his path breaking scholarship. For his work on the hidden market of organ allocation, Kessler was named one of the “30 under 30” in Law and Policy by Forbes. His work has been featured in The New York Times, The Wall Street Journal, Scientific American, Harvard Business Review, Politico, and Freakonomics, among others. He’s just published a new book, ‘Lucky by Design’.

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