The Dynamics of Costly Signaling
Costly signaling is a mechanism through which the honesty of signals can be secured in equilibrium, even in interactions where communicators have conflicting interests. This paper explores the dynamics of one such signaling game: Spence’s model of education. It is found that separating equilibria ar...
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| Format: | Article |
| Language: | English |
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MDPI AG
2013-04-01
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| Series: | Games |
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| Online Access: | http://www.mdpi.com/2073-4336/4/2/163 |