This paper considers a class of repeated signalling games to gain some intuitive insights into the effects and the desirability of modelling players in a dynamic game of incomplete information as being obstinate in the sense that their beliefs satisfy a support restriction. We demonstrate that...

The paper studies the most simple version of the Spence job market signaling model in which there are just 2 types of workers while education is not productivity increasing. To eliminate the multiplicity of equilibria, the general equilibrium selection theory of John Harsanyi and Reinhard Selten...