the market in a way that makes signaling credible. Using our institutional knowledge, we also identify the specific signal …

We study competitive equilibrium in a signaling economy with heterogeneously informed buyers. In terms of the classic … Spence (1973) model of job market signaling, firms have access to direct but imperfect information about worker types, in …. In equilibrium, some high type workers forgo signaling and are hired by better informed firms, who make positive profits …

and 30% to education signaling workers' ability.Institutional subscribers to the NBER working paper series, and residents …

obtain higher prices by delaying trade. This paper provides some of the first evidence of a signaling mechanism through trade …

reputation may refrain from asking to avoid signaling low ability. Separately, low-ability individuals may feel inhibited even if … their ability is known and there is nothing to signal, an effect we term shame. Signaling and shame constitute an overall … is correlated with cognitive ability. The second arm allows us to assess the contributions of signaling and shame, and …