作者：Siga, Lucas; Mihm, Maximilian
作者单位：New York University; New York University Abu Dhabi
摘要：We study when equilibrium prices can aggregate information in an auction market with a large population of traders. Our main result identifies a property of information-the betweenness property-that is both necessary and sufficient for information aggregation. The characterization provides novel predictions about equilibrium prices in complex, multidimensional environments.
