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Signalling, Inequality and the Social Structure

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  • Ana M. Ferrer

Abstract

This paper proposes a theory of endogenous transmission of social status through signalling in the labour market. A signalling game is analysed, in which education, acting as a signalling good, determines one's position in society. The economy's degree of inequality is shown to be a determinant of whether a society is ‘aristocratic’, where high income is the source of social standing, or ‘meritocratic’, bestowing status on high ability. Each social structure shows a different balance between production efficiency and social factors such as equality or mobility.

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  • Ana M. Ferrer, 2005. "Signalling, Inequality and the Social Structure," Economica, London School of Economics and Political Science, vol. 72(287), pages 515-529, August.
    • Handle: RePEc:bla:econom:v:72:y:2005:i:287:p:515-529
    DOI: 10.1111/j.0013-0427.2005.00428.x
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    Cited by:

    1. Masashi Tanaka, 2020. "Human capital investment, credentialing, and wage differentials," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 22(4), pages 992-1016, August.
    2. Jessica Harriger-Lin & Neha Khanna & Andreas Pape, 2020. "Conspicuous consumption and peer-group inequality: the role of preferences," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 18(3), pages 365-389, September.

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