In economics, signaling is a way that one party conveys meaningful information to another party. Generally this is done because there is asymmetric information and the two parties cannot easily disseminate the information. The classic example is a college degree. A college degree in and of its self does not mean that you are smart, but it acts as a signal to the employer that you were able to put in the work to obtain a degree. The employer uses this signal to estimate what kind of employee you might be.

Runners are signalers. Runners not only value running because it places them in great shape, but also because of the impression that it will make on others.

The race T-shirt. You can’t run a road race without obtaining the obligatory race T-shirt. I’m willing to bet that runners have more t-shirts than any other athletes. These race shirts act as signals. They effectively state that I am a runner and not only am I a runner but I race! Example, let’s say you just completed the Chicago Marathon. You’re excited and proud of your accomplishment, but how do you tell others about your achievement. You can simply tell them and this might be acceptable with your friends, but you don’t want to sound too boisterous. This is where the race T-shirt comes into play. Simply toss on your Chicago Marathon T-shirt, head to the party and you will surely be asked about the race.

Next we have the ever so growing popular finishers medal. It used to be that you had to win a medal, it meant not only did you race, but also you’re fast. Not anymore! Now simply by completing a race you will receive a shiny and large, finishers medal. Now some races that are shorter than 10k are giving out the finisher’s medal, please, stop the insanity. My guess is their was some runner who realized that he can’t wear his race T-shirt everyday so how does he let guest who enter his home know that he recently participated in a marathon. Why the finishers medal of course! Simply place the finishers medal around a lamp, hang it on the wall and you too will be able to signal to others that you are a runner and that you have in fact completed a race.

In 2006, I went to Las Vegas for the Marathon. That night you would not believe how many people I saw walking the strip with their finisher’s medal. Once again, it’s all about signaling and letting people subtly know that you’re a marathon runner.