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IN THEIR REJOINDER, COELHO, KLEIN, AND MCCLURE (CKM) mistake colorful descriptions of fashion for an explanation of fashion, confuse signaling with the chest-thumping of individuals who have nothing to signal, and attack innocent simplifying assumptions without asking whether changing those assumptions would make a difference to the results.
This article is a response to Rejoinder to Pesendorfer by Philip R. P. Coelho, Daniel B. Klein, and James E. McClure (EJW, April 2005).