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- เผยแพร่เมื่อ 11 ธ.ค. 2024
- A signal is an action that reveals information. Let’s look at higher education, for example. A large fraction of the value you receive from your degree comes on the day you earn your diploma. Your expected wages don’t increase with each class you complete along the way; instead, they spike sharply at the end when you receive your diploma. This is often referred to as the “Sheepskin Effect” because diplomas used to be printed on sheepskin.
Nobel Prize winner Michael Spence did research on this subject and found that education is valuable not necessarily because it creates valuable skills, but rather that it signals valuable skills. So how does the signal, represented by a degree, alleviate asymmetric information?
Employers don’t necessarily know how smart or skilled you are. Your degree, however, provides a credible signal of these traits and gives them more information they can use in the hiring process.
What other signals exist? We discuss examples like diamond engagement rings, why criminals tattoo their face, and why a peacock has a colorful tail. Let us know what examples you come up with in the comments.
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I am a university economics student and you have no idea how helpful your videos are to me, please keep up the good job. Thank you
+Kety Petrus Thank you! That's great to hear. Best of luck with your classes.
Best, Roman
Big thanks from Taiwan！
My economics lecture made it seem like a study of alien objects....thanks to these videos they have bailed me out!
Same. Many college professors are very good learners but not great TEACHers.
Well, here's my honest signal lol: your vids are simply incredible. Short, sweet, simplified, strikingly informative, to the point, well-organized, stunningly well-taught, well-designed and the list goes on. I can't thank you enough. As a former financial journalist and a current educator, I must say this is cutting-edge education. You guys are doing an incredible job. Thank you : ) Looking forward to receiving lots more of your wonderful vids.
Ray,
Thank you for your kind words! I've shared with the whole team.
-Roman
@@MarginalRevolutionUniversity Meanwhile, the government burns a lot of tax dollar to teach false economics to kids and adolescents. Thanks for teaching real economics.
Brilliant! Signaling Demystified.
- information asymmetry
- signal cost & signal credibility
- great examples
This video signals not only the quality but also the commitment to do good for the world.
Aaaaaawesome way of teaching economics using real life examples . Brings Econs out of the textbooks into reality. Aaaaamazing !!
Thank you ! 7 years later, you're still helping university students !
Ha, I loved how you encouraged us to like the video. Just did that!
this explanation was better than any books I could find on google books.
this video is very important to me, helped me understand signalling theory better
thank you for the explanation. It was well worded, with appropriate examples. It was very helpful. thanks again.
I am a french financial and banking student, and the concept of signaling theory for debt was still a little bit blurry.
But the problem is now solved thanks to you.
Very clear, good example, animation, no complicated words… very good video
Thank you for the kind words!
-Roman
It's just a great !!! These videos are shaping my mind. Thanks so much !!!
I really loved ur economic video classes. Please continue like that and I do hope all of u the best
Just love all your videos. These videos help me a lot. God bless.
Really good videos, thank you so much for all your efforts!
This video was excellent. I've watched several videos on signaling theory all of which did not help me comprehend this topic. Your video gave definitions and several real world easy to understand examples.
Simple and full of intuition. Loved this video.
Thanks for making the explanation so simple. saved me the time of reading a book
the best presentation of its owen kind ...bravoo
Really excellent work! It is so focused, clear and succinct. THANK YOU!
High Quality content, Helps learn a lot, that too with a Sheepskin note, Thanks a lot
Your video deserves everyone's signaling
this video helps me a lot for my theoretical framework. thanks
Concept well explained! Thanks!
Excellent!
These videos are great educational tools coming from experts. Here is my signal of the information that I had gain. Keep it up.
Great. My Like and Subscription are the signals👍
I am a finance student at Cass business school and have no idea how you can deliver information to me in couple of minutes and how my professors can't do it in two hours lecture! seriously, well done.
Your video is so much more useful than my lectures!
Great information. Very informative. Shadow banking was my first motivation.
Your videos are really awesome.
I got new perspectives on concepts.
You are now reducing asymmetric information between students and teachers!!!
Great video... loved the example. Helped me understand the topic very well
best lectures ever!!!!
Very good explanation. Thank you!
really helpful video, many thanks
these videos are so cool! Thanks for sharing! keep up the good work.
From Tanzania; I say thanks so much.
Nice! 👍
Thank you for this great course. They are very helpful and easy to understand. I wish teachers of my bachelor degree was like you guys.
You are GREAT! What a didatic! The animation is very good either. Good job!
the end got me. thanks a lot boss !
Superb and clear concept imparted. Thanks.
This is a well explained video. Thanks a lot.
A good example of a lifetime warranty that didn't pan out was NordicTrack. They had lifetime guarantees but the guarantees didn't match the quality which lead to bankruptcy.
Best explanation ever!
Thank you prof!
WONDERFUL VIDEOS SIR, PLEASE DO PROVIDE MORE FOR HELPING US IN SOLVING MANAGEMENT PROBLEMS.
Signal Awesomeness Overloaded! but Plz make more detailed videos incorporating many examples as possible so we can understand concepts much. Hope this help
Nice Video!! Thanks From Italy !
This is awesome. Thank you for doing this!!
Your videos are very helpful. Thank you!
Thank you!
-Roman
Nicely explained!
Just signaled my gratitude by "Like" and "Subscribe" sir.
Hi I am Indian postgraduated in economics. I like your videos they are crisp and better understanding. Please provide the slides of these videos.
Thank you for your very wonderful video. It really helps me a lot in my report presentation, especially in terms of economics course because I am a student and my major is business economics. Thank you!
👌👌 Your channel helps me a lot. Its always super easy to understand even the complex concepts
Thanks to you.
Great content - thank you :-)
Great explanation. You could explain screening :)
nice video
Super helpful thank you sooooooo much
thank u a lot to make such difficult concept so easier!
Very helpful, thank you
This might explain some cultural and religious behaviours that seem so costly like sacrificing animals or humans or dressing in specific ways and doing complicated rituals or pilgrimages. It's not the whole explanation but it does make them explainable.
exactly what i needed thanks alot
keep up the good work
perfect explanation sir.
Thank you for this great course. They are very helpful and easy to understand.This is awesome. Thank you for doing this!!
sir i am from pakistan. kindly make some videos on pakistan's Economy
thanks
i like this.....a lot!!!.....
This is really good!
Who's here in 2021? :D Nice video!
Excellent videos! Well explained ideas, good examples, excellent material for learners.
Is there any screening explanation ?
love your contents!
your video is vey great , please keep going
Very very helpful
Parabens pelo trabalho.
A couple of extra points that work in addition to the presented points: 1. A good signal accepting situation happens when the signal sender gets penalized for bluffing (fake signal). Example: The degree helps greatly for the FIRST job out of college, and the first employer does face a risk of hiring a bluffing (not well educated or capable) graduate. But after the bluffing graduate begins that first job, the employer WILL discover the bluff, and fire the employee. The employer may have lost money offering some introductory training that it does not recover, but the signifcant loss falls on the bluffing graduate, who cannot get a positive recommendation from the first employer, and then suffers a loss on the college investment as the (previously private) information about being a weak student becomes public. Lesson? Don't look for the easy professors and don't complete college unless you really are a strong thinker and will not get your bluff called.
Actually the signaling/sheepskin effect is 80-90% of the degree meaning that completing the degree means you are conscientious and conventional. The employer usually does some other interviewer magic to figure out who is bluffing.
Nice explanation!
Great video!
what is the difference between signaling and screening?
fantastic
Very helpful thanks
Loved it❤️
thanks ferd
I would recommend not to upload videos in group all at once but rather individually on a larger period of time, a week for exemple. I can only speak for myself, but when I see that you uploaded 5 videos consecutively, each being more than 5 minutes, I will want to watch them all, which requires a certain amount of time. If I don't have time to watch them all together when they are uploaded, it is likely that I won't watch any of them separately. Because of that I might forget to watch them later when free time is available and don't watch anything.
+pierreeeboisson Thanks for the great suggestion. We typically develop videos one "section" at a time but you are right that there's no reason we need to release them that way.
hi! could you make a video on letters of credit as a finance vehicle for import/export transactions? thank you!
is this signaling also aplied as a channel of monetary policy right?
Can this apply to dating I mean to connect prospects who might never cross each other if it weren't the one dominant act that got them together I guess
smooth ending
Great
greetings from Argentina
La forma en la que está organizada la serie de videos permite ir agregando contenido de forma incremental.
hi, :)
tnx for these high-quality educational videos :)
is it possible for you to also make some video on forex? about is it a good thing to do? and for who? and what informations we can use for predictions on forex?
tnx :)
signal given (liked)
nice
this is a signal
i like the video 😉
💯
Give us a signal😂😂😂
I gave u a signal by liking ur video