Lessons Learned

• Book covers, college degrees, and brand names can be quick ways of signaling quality.

• When a player can’t lie, he also can’t stay silent, for the sound of silence can be deafening.

• Placing people under pressure might cause them to be too honest for their own good.

• Lines can provide useful information about others’ beliefs and intentions.

• Options can help solve “chicken and egg”–like coordination problems.

• You should take more risks if you have an implicit option.