What do you think?
Rate this book
Lucky by Design: The Hidden Economics You Need to Get More of What You Want
Wharton economist and market designer Judd Kessler pulls back the curtain on hidden markets that determine who gets what in everyday life—and how to tip the scales in our favor.
What's the secret to scoring a reservation at a hot new restaurant? When should you enter a lottery to increase your odds of winning? Why did your neighbor's kid get into a nearby preschool while yours didn't? Who gets priority for a life-saving organ donation?
These outcomes are not a matter of luck. Instead, they depend on how we navigate hidden markets that arise to decide who gets what when many of us want something and there isn't enough to go around. Every day we play in these markets, yet few of us fully understand how they work.
In familiar markets, what we get depends on how much we're willing to pay. Hidden markets do not rely on prices: you can't buy your way into a better position. Instead, what you receive hinges on the rules by which the market operates, and the choices you make in them.
Judd Kessler has spent a career studying and designing these very markets. Now, he reveals the secrets of how they work, and how to maneuver in them. Whether you want to snag a coveted ticket, secure a spot in an oversubscribed college course, get better matches in the dating and job markets, do your fair share of the household chores (but no more), or more efficiently allocate your time and attention, this must-read guide will show you how to get Lucky by Design.
What's the secret to scoring a reservation at a hot new restaurant? When should you enter a lottery to increase your odds of winning? Why did your neighbor's kid get into a nearby preschool while yours didn't? Who gets priority for a life-saving organ donation?
These outcomes are not a matter of luck. Instead, they depend on how we navigate hidden markets that arise to decide who gets what when many of us want something and there isn't enough to go around. Every day we play in these markets, yet few of us fully understand how they work.
In familiar markets, what we get depends on how much we're willing to pay. Hidden markets do not rely on prices: you can't buy your way into a better position. Instead, what you receive hinges on the rules by which the market operates, and the choices you make in them.
Judd Kessler has spent a career studying and designing these very markets. Now, he reveals the secrets of how they work, and how to maneuver in them. Whether you want to snag a coveted ticket, secure a spot in an oversubscribed college course, get better matches in the dating and job markets, do your fair share of the household chores (but no more), or more efficiently allocate your time and attention, this must-read guide will show you how to get Lucky by Design.
288 pages, Hardcover
Published October 14, 2025
20 people are currently reading
2358 people want to read
Ratings & Reviews
Friends & Following
Create a free account to discover what your friends think of this book!
Community Reviews
Displaying 1 - 12 of 12 reviews
Read
December 13, 2025"Lucky by Design: The Hidden Economics of Getting More of What You Want" by Judd B. Kessler challenges the common belief that success in competitive situations is mostly about chance. Whether it’s landing coveted tickets, securing a selective job, or gaining access to limited opportunities, the book argues that outcomes are rarely random. Instead, they are shaped by invisible systems - what Kessler calls hidden markets - that quietly determine who gets what. These markets don’t rely on prices or obvious transactions, but on rules, signals, and constraints that most people overlook. By learning how these systems work, individuals can intentionally improve their odds without cheating, bribing, or relying on sheer luck.
The book begins by explaining that many of life’s most important opportunities are allocated through markets that don’t involve money. Unlike traditional markets where goods are exchanged for a price, hidden markets distribute scarce resources using rules that may be formal, informal, or algorithmic. Organ transplants, school admissions, elite jobs, and even dating all fall into this category. Because prices are absent, access depends on how decisions are structured and who controls them. These systems often feel opaque or unfair, but they follow logic nonetheless. Once people learn to recognize when they are operating inside a hidden market, they can stop guessing and start acting strategically.
Understanding a hidden market starts with identifying scarcity. When demand exceeds supply and money cannot be used to sort people, alternative mechanisms step in. These mechanisms might include lotteries, waiting lists, applications, or subjective evaluations. Each one rewards different behaviors. Some favor patience, others reward signaling commitment, and some penalize indecision. People who appear 'lucky' often succeed because they’ve learned how to navigate these rules effectively, not because they are more deserving or talented.
One of the most common tools used in hidden markets is waiting. When raising prices isn’t possible or desirable, systems impose time costs instead. Waiting lines and waitlists become substitutes for money. However, not all waiting systems function the same way. Some require people to physically remain in line, while others allow them to sign up and return later. The difference matters because time has value. Standing in line consumes attention and opportunity, while waitlists distribute the burden more evenly. Smart participants think carefully about when waiting is actually costly for them and when it might be the least painful option.
The book shows that timing can be more important than speed. Conventional advice - such as arriving as early as possible - often backfires once everyone follows it. In some cases, arriving later can reduce total waiting time or align better with personal schedules. Well-designed systems sometimes remove incentives to arrive early altogether, such as when seating or access is randomized among all who arrive before a deadline. These choices can make participation fairer and reduce wasted effort. When systems are designed thoughtfully, waiting becomes less about endurance and more about informed decision-making.
Another major theme in the book is the idea of choose-me markets. These are situations where success depends on being selected by someone else, such as employers, admissions committees, or romantic partners. In these environments, qualifications alone are not enough. Decision-makers care deeply about fit, commitment, and likelihood of acceptance. This creates a paradox where being too impressive can actually hurt your chances. If evaluators believe a candidate is likely to receive better offers elsewhere, they may not invest time or resources in pursuing them.
This dynamic explains why candidates are sometimes labeled 'overqualified.' The issue is not ability, but risk. Selectors want reassurance that their effort won’t be wasted. As a result, signaling genuine interest becomes crucial. Demonstrating knowledge of a specific organization, expressing long-term intent, or tailoring an application can be more persuasive than adding another achievement. In choose-me markets, credibility and sincerity matter as much as excellence.
Signaling also plays a critical role in crowded environments where attention is scarce. When decision-makers are overwhelmed with options, they rely on shortcuts to filter choices. Generic actions blend together and lose meaning. The book illustrates this through examples like online dating platforms, where mass participation has diluted the value of simple gestures. When everyone uses the same low-effort signals, it becomes impossible to distinguish real interest from noise.
To solve this problem, markets introduce costly signals - actions that require extra effort, money, or limited resources. These signals work precisely because they are not free. They indicate seriousness and help receivers prioritize attention. Whether it’s a personalized message, a referral, or a paid feature, costly signals help restore meaning in crowded systems. The lesson is not to signal more, but to signal selectively and intentionally. Well-placed effort can outperform sheer volume.
The book also explores how flexibility functions in hidden markets. Many systems allow people to commit early and change their minds later without penalty. This option value is attractive because it reduces risk. However, when too many people exploit this flexibility - by holding multiple reservations, offers, or slots - systems begin to break down. Resources go unused while others are shut out. To prevent this, designers introduce penalties, limits, or restrictions.
Examples include cancellation fees, booking limits, and tracking no-shows. These measures aren’t meant to punish individuals but to protect the overall system from inefficiency. The book encourages readers to use flexibility responsibly. Holding options can be rational and fair when no one is harmed, such as during job searches or college admissions. But delaying decisions unnecessarily or hoarding spots creates waste and invites stricter rules.
Throughout the book, Kessler emphasizes that strategic behavior does not mean unethical behavior. Playing hidden markets well involves understanding incentives and responding thoughtfully, not exploiting others. When people act with awareness and restraint, systems function better and outcomes improve for everyone involved. Strategic choices that respect shared rules tend to build trust and preserve opportunity.
In conclusion, "Lucky by Design: The Hidden Economics of Getting More of What You Want" reframes luck as something that can be cultivated through understanding rather than chance. By learning to recognize hidden markets, assess the real costs of waiting, signal fit in choose-me environments, stand out in crowded spaces, and use flexibility wisely, individuals can meaningfully improve their outcomes. The book shows that success often comes from seeing what others miss and acting deliberately within the rules. When people design their behavior with intention and awareness, luck becomes less mysterious - and far more attainable.
The book begins by explaining that many of life’s most important opportunities are allocated through markets that don’t involve money. Unlike traditional markets where goods are exchanged for a price, hidden markets distribute scarce resources using rules that may be formal, informal, or algorithmic. Organ transplants, school admissions, elite jobs, and even dating all fall into this category. Because prices are absent, access depends on how decisions are structured and who controls them. These systems often feel opaque or unfair, but they follow logic nonetheless. Once people learn to recognize when they are operating inside a hidden market, they can stop guessing and start acting strategically.
Understanding a hidden market starts with identifying scarcity. When demand exceeds supply and money cannot be used to sort people, alternative mechanisms step in. These mechanisms might include lotteries, waiting lists, applications, or subjective evaluations. Each one rewards different behaviors. Some favor patience, others reward signaling commitment, and some penalize indecision. People who appear 'lucky' often succeed because they’ve learned how to navigate these rules effectively, not because they are more deserving or talented.
One of the most common tools used in hidden markets is waiting. When raising prices isn’t possible or desirable, systems impose time costs instead. Waiting lines and waitlists become substitutes for money. However, not all waiting systems function the same way. Some require people to physically remain in line, while others allow them to sign up and return later. The difference matters because time has value. Standing in line consumes attention and opportunity, while waitlists distribute the burden more evenly. Smart participants think carefully about when waiting is actually costly for them and when it might be the least painful option.
The book shows that timing can be more important than speed. Conventional advice - such as arriving as early as possible - often backfires once everyone follows it. In some cases, arriving later can reduce total waiting time or align better with personal schedules. Well-designed systems sometimes remove incentives to arrive early altogether, such as when seating or access is randomized among all who arrive before a deadline. These choices can make participation fairer and reduce wasted effort. When systems are designed thoughtfully, waiting becomes less about endurance and more about informed decision-making.
Another major theme in the book is the idea of choose-me markets. These are situations where success depends on being selected by someone else, such as employers, admissions committees, or romantic partners. In these environments, qualifications alone are not enough. Decision-makers care deeply about fit, commitment, and likelihood of acceptance. This creates a paradox where being too impressive can actually hurt your chances. If evaluators believe a candidate is likely to receive better offers elsewhere, they may not invest time or resources in pursuing them.
This dynamic explains why candidates are sometimes labeled 'overqualified.' The issue is not ability, but risk. Selectors want reassurance that their effort won’t be wasted. As a result, signaling genuine interest becomes crucial. Demonstrating knowledge of a specific organization, expressing long-term intent, or tailoring an application can be more persuasive than adding another achievement. In choose-me markets, credibility and sincerity matter as much as excellence.
Signaling also plays a critical role in crowded environments where attention is scarce. When decision-makers are overwhelmed with options, they rely on shortcuts to filter choices. Generic actions blend together and lose meaning. The book illustrates this through examples like online dating platforms, where mass participation has diluted the value of simple gestures. When everyone uses the same low-effort signals, it becomes impossible to distinguish real interest from noise.
To solve this problem, markets introduce costly signals - actions that require extra effort, money, or limited resources. These signals work precisely because they are not free. They indicate seriousness and help receivers prioritize attention. Whether it’s a personalized message, a referral, or a paid feature, costly signals help restore meaning in crowded systems. The lesson is not to signal more, but to signal selectively and intentionally. Well-placed effort can outperform sheer volume.
The book also explores how flexibility functions in hidden markets. Many systems allow people to commit early and change their minds later without penalty. This option value is attractive because it reduces risk. However, when too many people exploit this flexibility - by holding multiple reservations, offers, or slots - systems begin to break down. Resources go unused while others are shut out. To prevent this, designers introduce penalties, limits, or restrictions.
Examples include cancellation fees, booking limits, and tracking no-shows. These measures aren’t meant to punish individuals but to protect the overall system from inefficiency. The book encourages readers to use flexibility responsibly. Holding options can be rational and fair when no one is harmed, such as during job searches or college admissions. But delaying decisions unnecessarily or hoarding spots creates waste and invites stricter rules.
Throughout the book, Kessler emphasizes that strategic behavior does not mean unethical behavior. Playing hidden markets well involves understanding incentives and responding thoughtfully, not exploiting others. When people act with awareness and restraint, systems function better and outcomes improve for everyone involved. Strategic choices that respect shared rules tend to build trust and preserve opportunity.
In conclusion, "Lucky by Design: The Hidden Economics of Getting More of What You Want" reframes luck as something that can be cultivated through understanding rather than chance. By learning to recognize hidden markets, assess the real costs of waiting, signal fit in choose-me environments, stand out in crowded spaces, and use flexibility wisely, individuals can meaningfully improve their outcomes. The book shows that success often comes from seeing what others miss and acting deliberately within the rules. When people design their behavior with intention and awareness, luck becomes less mysterious - and far more attainable.
October 24, 2025
Chock full of humorous and down-to-earth insights, this book really helps with understanding where markets can fail, and in particular, when prices are insufficient as the only tool to help achieve what's best for society as a whole. I strongly recommend!
October 20, 2025
I loved how Kessler was able to share all the exciting things happening in the field of market design in such an intimate and relatable way.
I can’t wait to tell my friends—those I regularly exchange good book recommendations with—about this book.
I can’t wait to tell my friends—those I regularly exchange good book recommendations with—about this book.
December 13, 2025
Not my usual kind of read, and I hated studying economics in school. This book did a really good job at being concise and showing real world examples of how different market strategies play out. It was about as engaging as you can make an economics book, and I enjoyed having the author's personality come through the pages. I think we would be friends in real life. Not my favorite topic, but this author made these principles digestible and gave some good tips though I knew most already. Good book for students for sure.
October 15, 2025
Really insightful + funny, will save you $ + time!
I was lucky enough to read a copy a few days early, and this is such a fun, insightful, fresh new take on the genre of getting more out of your life. Whereas Freakonomics was about using Econ to understand news headlines, this book is about the things that actually impact your life--getting into college, finding a date, snagging concert tickets or a restaurant reservation. It is so fun, so practical, and will save you money and time!
I was lucky enough to read a copy a few days early, and this is such a fun, insightful, fresh new take on the genre of getting more out of your life. Whereas Freakonomics was about using Econ to understand news headlines, this book is about the things that actually impact your life--getting into college, finding a date, snagging concert tickets or a restaurant reservation. It is so fun, so practical, and will save you money and time!
December 13, 2025
Blinkist book of the day
Lucky by Design (2025) explores how life’s most competitive opportunities – like job offers, school admissions, or restaurant bookings – are decided in hidden markets that don’t rely on money.
These markets run on rules, not prices, and success depends on understanding and navigating those rules. It’s a practical guide to making smart choices in systems most people don’t even realize they’re part of.
Lucky by Design (2025) explores how life’s most competitive opportunities – like job offers, school admissions, or restaurant bookings – are decided in hidden markets that don’t rely on money.
These markets run on rules, not prices, and success depends on understanding and navigating those rules. It’s a practical guide to making smart choices in systems most people don’t even realize they’re part of.
This entire review has been hidden because of spoilers.
December 24, 2025
This book is a must read for anyone that wants an edge in life! I saw Judd Kessler discussing his book on WGN News and I instantly knew I had to read it. I was fascinated with the topic and had no idea that there was an academic field of study related to the hidden markets we face daily. I thought the book was wonderfully written and explained the high level theories behind hidden markets, their designers and participants. It also provides real world examples of things we see daily and provides suggestions on how to spot, analyze and make the best decisions for each type of market. Well done, Professor Kessler!
January 4, 2026
Like his potential students, I also read this book for content in the last chapter. Was it worth it? Meh. The book is well written and concepts presented here were not too difficult for a layperson to understand. The organization is also top notch, so even though I am a little annoyed I had to wade through the whole thing to get to the "good part", which was relatively small, I probably wouldn't have fully appreciated that content without all the chapters that came before.
November 18, 2025
It was a joy to read this book. Effortlessly relatable, even for an economics text. I find myself looking for hidden markets and how to optimize my role multiple times a day. As a bonus the book includes a decent amount of parenting advice, which feels both personal and extremely practical.
November 3, 2025
Concise, quick read, especially for anyone who is a market designer.
November 19, 2025
Pretty good book. Covered a lot of "markets" in day to day choices and life. Interesting read.
January 8, 2026
As a constant concert and event goer, this read gives me more insight into making more efficient decisions to create a winning situation.
Displaying 1 - 12 of 12 reviews