We study the value of information in financial markets by asking whether having more information always leads to higher returns. We address this question in an experiment where single traders have different information levels about an asset’s intrinsic value. In our treatments we vary the...

Many important markets, such as those for health care or repair services, are characterized by pronounced informational asymmetries between buyers and sellers – because the buyer cannot identify the quality of the product that fits her needs best, while the seller can do so by performing a...