Abstract
In economics, a signal is an observable characteristic that conveys information about an individual. To borrow a phrase from Nobel Prize winning economist Alvin Roth, signals often determine “who gets what and why” within marketplace settings. To use a common example, job hiring committees often take a college degree to signal that a person is hard-working and disciplined. In this chapter, we explore educational signaling, as well as a few of the more subtle economic signals in our society. By exploring these signals, we seek to gain a deeper understanding as to how people make decisions—often about other people—in the face of imperfect information.
In economics, a signal is an observable attribute that conveys information about an individual. To use a common example, job hiring committees often interpret a college degree as a signal that a candidate is hard-working and disciplined. In this chapter, we explore educational signaling, as well as a few of the more subtle economic signals in our society.
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Notes
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Like me, other students achieve the trifecta of college major declarations.
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Alternatively, it is possible that comedians simply find humor in pain. After all, both Billy Crystal and Jerry Seinfeld remain loyal New York Mets fans.
References
SeatGeek. (2020). Los Angeles Lakers tickets. Retrieved from https://seatgeek.com/los-angeles-lakers-tickets#:~:text=Typically%2C%20Lakers%20tickets%20can%20be,an%20average%20price%20of%20%24261.00 .
SeatGeek. (2020). Los Angeles Clippers tickets. Retrieved from https://seatgeek.com/los-angeles‑clipperstickets#:~:text=Clippers%20ticket%20prices%20on%20the,an%20average%20price%20of%20%24133.00 .
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Sanders, S. (2020). Economic Signals. In: The Economic Reason. Springer, Cham. https://doi.org/10.1007/978-3-030-56043-0_2
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DOI: https://doi.org/10.1007/978-3-030-56043-0_2
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