Savitar Sundaresan
Institution
Imperial College London
PhD Year
2016
FTG Membership
Member
Website
https://www.savitars.com/
Featured Work
(In)efficiency in Information Acquisition and Aggregation through Prices
Mar 6, 2026
We study markets in which traders acquire private information before submitting their schedules. We characterize conditions under which traders over-invest (respectively, under-invest) in information and trade excessively (respectively, insufficiently) on their private signals. These inefficiencies arise from a novel interaction between learning and pecuniary externalities. We show that, generically, no policy based solely on equilibrium
prices and individual trade volumes can simultaneously implement efficiency in information...
