A very early reference is the classic paper by Grossman and Stiglitz (1976) that showed that uninformed traders in a market context can become informed through the price in such a way that private information is aggregated correctly and efficiently.
Veoma rana referenca je klasičan rad Grosmana i Stiglica (1976) koji je pokazao da, uniformisani trgovci, u tržišnom kontekstu, mogu postati informisani kroz cenu, na takav način da su privatne informacije sakupljenje ispravno i efikasno.