ECON MICRO
5th Edition
ISBN: 9781337000536
Author: William A. McEachern
Publisher: Cengage Learning
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Chapter 14, Problem 4.10P
To determine
Example of signaling in the following situation:
- Choosing a doctor
- Applying to graduate school
- Filling out a form for a dating service
Concept Introduction: Signaling refers to the exchange of information between parties, where one party credibly conveys some internal information to another party (principal).
Screening is a way of reducing adverse selection problems, decisions are taken by the parties with more information than the others.
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