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10 interviews · 4 quotes
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In this interview I speak to Judd B. Kessler, the inaugural Howard Marks Endowed Professor of Business Economics and Public Policy at the University of Pennsylvania’s Wharton School. We discuss the hidden…
Originally published in Global ARC. Vikas Shah interviews Alan S. Blinder (the Gordon S. Rentschler Memorial Professor of Economics and Public Affairs at Princeton University) who served as Vice Chairman of the Board…
Guest article written for AllAboutAlpha.com – the official publication of the Chartered Alternative Investment Analyst (CAIA) Association Originally posted at: http://allaboutalpha.com/blog/2012/08/15/the-greek-opportunity/ “Of all the economic horror stories produced since the banking crisis…” wrote…
In 2010, The Economist reported the story of Narsama Anthaiah who’s “…sobbing can be heard throughout her village, Nagaram, in the Indian state of Andhra Pradesh (AP).” They continue to explain, “When…
Recent economic events have brought the concept of financial bubbles from academic texts to the forefront of economic and commercial thought. Whereas economies used to be slow laborious creatures, the globalisation of…
As I write this, my Bloomberg feed shows that, “Euro-region leaders [have] ordered Greece to get the bloc’s highest budget deficit under control and said they are prepared to take “determined” action…
In this article, we speak to Jeremy Smith, Chief Strategy Officer at SecondMarket, where over 3,000 participants manage over $1 trillion, participating in the world’s largest centralized, independent marketplace and auction platform…
More than ever before in human history, our countries are linked in a complex economic framework which creates dependencies between all nations. In a privileged interview, Thought Economics speaks to Professor Wim…
The past 10 days have been “the most dramatic in Wall Street’s 216-year history” seeing Lehman Brothers collapse, AIG fall into critical distress, and the US Federal Reserve creating a c. US$1…
In this interview, I spoke to Nobel laureate Alvin Roth about his book Moral Economics and the repugnant transactions at its centre: exchanges willing parties want but others would ban. We discussed…
From the archive
The problem is you cannot achieve all three E's simultaneously. Early work in the subfield of market design shows it's very hard and very unlikely you'll get a hidden market that can successfully allocate things efficiently and equitably in a way that's also easy.
— Judd B. KesslerAny time you're in a situation where the price is 'too low'—and I put that in quotes because it might not feel low to you, sometimes things are very expensive, but there are more people who'd like to buy the thing than they have the ability to serve—that's when a hidden market will crop up.
— Judd B. KesslerIt might feel—if you haven't yet learned the rules of these hidden markets—that the outcomes are based on luck, chance, or things beyond your control, but you actually have a lot more agency in them than you think.
— Judd B. KesslerWithout understanding the rules of the game, you might assume that your outcomes are determined mostly by luck. People who end up unhappy about what they get conclude that they were unlucky or that the system was rigged against them. After enough of these experiences, they believe that's just how the world works.
— Judd B. Kessler
