Perhaps the more original source for this idea is in Michael Spence’s 1973 paper on Job Market Signaling: https://en.wikipedia.org/wiki/Signalling_(economics)

Perhaps the more original source for this idea is in Michael Spence’s 1973 paper on Job Market Signaling: https://en.wikipedia.org/wiki/Signalling_(economics) https://en.wikipedia.org/wiki/Signalling_(economics)