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This lecture introduces signaling games. Here, informed actors move first, meaning their strategies can potentially convey some sort of message or signal to the uninformed player. Perfect Bayesian equilibrium comes in three "flavors" for signaling games: separating equilibrium, pooling equilibrium, and semi-separating equilibrium/partially pooling equilibrium. The goal for this lecture is to develop the differences between these types of strategies before learning how to solve for them in the next set of lectures.

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