contributing to the public good. The model combines a follower’s concern for fairness and informational signaling about … goods games that were based on only signaling information (i.e., about the quality of the public good or the return to …

portfolios to investors. We extend the signaling model for single sales of risky assets to portfolio sales. We identify … conditions under which signaling at the portfolio level dominates signaling at the single asset level. In particular, when banks …

In Spence’s (1973) signaling by education model and in many of its extensions, firms can only infer workers …’ productivities. We characterize the trade–offs between signaling by workers and costly information acquisition by firms. Information … workers have low productivity. Our analysis applies also to other signaling problems, e.g. the financial structure of firms …

: all rents are dissipated for signaling purpose. …