  We study multidimensional signaling (cognitive/non-cognitive) as a sender's
portfolio choice with a resource constraint. We establish the existence of a
unique monotone D1 equilibrium where the cognitive (non-cognitive) signal
increases (decreases) in sender type and the sum of the two increases in sender
type. The equilibrium is characterized by two threshold sender types. The low
threshold is one where a kink occurs in signaling. The constraint is binding
only for sender types above it. The high threshold is the other one, above
which all types spend all the resources in cognitive signal with pooling and
discontinuity on the top.
