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The third method of modulation is Phase Modulation (PM) - very similar in some respects to Frequency Modulation (FM) - It is not used in radio transmission, providing little benefit over FM but requiring a much more complex receiving device.
PM modulates the phase relative to the signal. The mathematics is horrific and it has been nearly 40 years since I had anything to do with it and that was only as an apprentice.
Wikipedia

does have a reasonably good description of PM


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Q: What third characteristic of a wave can be modulated?
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