What happens when signaling gets cheaper?

posted by
February 7, 2012
EconLog
by Bryan Caplan  
Posted in Commentary

"The problem is that a low-cost substitute lowers the cost of signaling for everyone. So if the cost per signal falls by 50%, you have to do twice as much signaling to separate yourself from the pack." (01/06/12)

http://bit.ly/xLNHTQ  

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