Before revision:  The observation network generally presents an obstruction to the efficient rate of signal aggregation, as agents compromise between incorporating the signals of the observed neighbors and not over-counting the  signals of the unobserved early movers.
After revision:  The observation network generally presents an obstruction to the efficient rate of signal aggregation, as agents compromise between incorporating the signals of the observed neighbors and not over-counting the confounding signals of the unobserved early movers.