Bilancini, Ennio; Boncinelli, Leonardo - Dipartimento di Economia "Marco Biagi", Università … - 2014
In this paper we identify a novel reason why signaling may fail to separate types, which is specific to cases where the receiver has to incur a cost to acquire the signal sent by the sender. If the receiver chooses not to incur the acquisition cost, then all sender's types find it optimal to...