Finicade
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Level 21 · ◆◆◆◆ · ~13 min

Signalling

Signalling

"How the informed side proves itself: do something that would be too expensive for the other type to copy. Everything else is talk."

Spence's signalling modelthe single-crossing conditionseparating vs pooling equilibriasignals in financewhy signals must be wasteful to work
🚀 You're jumping ahead. This builds on Adverse Selection — but play it now and you'll still earn full XP. If it feels steep, those make a gentler on-ramp.

A short lesson, then a quiz. ❤️×3 — a wrong answer costs a heart; finish with at least one left and the level is yours. Lose all three and you'll have to try again. Replay any time — XP and cleared levels are never lost.