3 papers
econ.GN2026
Information Aggregation with AI Agents
Spyros Galanis
Can Large Language Models (AI agents) aggregate dispersed private information through trading and reason about the knowledge of others by observing price movements? We conduct a co…
econ.TH2026
Information Aggregation with Costly Information Acquisition
Spyros Galanis, Sergei Mikhalishchev
We study information aggregation in a dynamic trading model with partially informed traders. Ostrovsky [2012] showed that `separable' securities aggregate information in all equili…
econ.TH2025
No Trade Under Verifiable Information
Spyros Galanis
No trade theorems examine conditions under which agents cannot agree to disagree on the value of a security which pays according to some state of nature, thus preventing any mutual…