Category
Spence
1 article
Why Labels No Longer Convince Anyone
Michael Spence (Nobel 2001), costly signaling, and what separates proof from a promise: why a label anyone can slap on no longer signals anything — and how proof changes the game.
Category
1 article
Michael Spence (Nobel 2001), costly signaling, and what separates proof from a promise: why a label anyone can slap on no longer signals anything — and how proof changes the game.