2026-06-01T07:51:48Zhttps://riuma.uma.es/rest/oai/requestoai:riuma.uma.es:10630/325382026-02-03T11:24:16Zcom_10630_2254col_10630_37953
RIUMA. Repositorio Institucional de la Universidad de Málaga
author
Ropero-García, Miguel Ángel
2024-09-12T09:59:56Z
2024-09-12T09:59:56Z
2024-09-04
Ropero García, M.Á. Signaling games with a highly effective signal. J Econ (2024). https://doi.org/10.1007/s00712-024-00882-x
https://hdl.handle.net/10630/32538
10.1007/s00712-024-00882-x
We study a class of signaling games in which one of the signals induces the receiver to take an action that provides the sender with the highest utility. This class of games has multiple pooling equilibria, but the equilibrium in which all senders′ types choose the signal that induces the receiver to take that action is more plausible than others. Although all the equilibria in pure strategies are divine in our class of games when the single-crossing condition is not satisfed, only the plausible equilibrium is a neologism-proof equilibrium. Therefore, we have identifed a general class of signaling games in which the neologism-proof equilibrium is useful to select the most plausible equilibrium, whereas all the pooling equilibria survive divinity and other less restrictive refnements. We apply our model to an educational signaling game with two features. First, the highest level of education allows a worker to access a more productive segment of the labor market. Second, the educational system is non-selective and consequently, the cost of education does not change with the worker′s ability. As expected, there is overeducation in equilibrium because all worker′s types choose the highest level of education.
eng
Atribución 4.0 Internacional
Juegos, Teoría de
Signaling games with a highly efective signal
journal article
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