Internet-based peer-to-peer (P2P) content sharing platforms have emerged as a widespread mechanism for sharing electronic content using the Internet. A persistent problem with such platforms is the ex ante assessment of content integrity and quality. In this ongoing study, we address this understudied issue. Using a multi-method research design, we identify using a grounded theory building approach three broad classes of signaling mechanisms associated with the content, contributor, and network that users integratively use to assess the risk-benefit tradeoffs in downloading a given unit of content (e.g., a file). We propose that these signals influence users’ holistic perception of risk-benefit differential, and in turn influence the likelihood of downloading content files. We describe the status of this research-in-progress study. Our primary expected contribution is a middle-range theory of signaling that predicts how signaling mechanisms influence user behavior in such platforms.