Galdón Sánchez, José EnriqueGil, RicardUriz-Uharte, Guillermo2025-02-252024-11-12Galdón-Sánchez, J. E., Gil, R., Uriz-Uharte, G. (2025) The value of information in competitive markets: evidence from small and medium-sized enterprises. Journal of Political Economy, 133(1), 252-305. https://doi.org/10.1086/7325250022-380810.1086/732525https://academica-e.unavarra.es/handle/2454/53555We empirically investigate how the performance of small and medium-sized enterprises (SMEs) changes when gaining access to market information. To do so, we evaluate the impact of an information program diffused by a bank among its SME customers. Adopting firms gained access to reports with rich information about their own clientele and that of nearby establishments. While we find that adoption is associated with a 4.5% revenue increase, our instrumental variable results indicate that adoption increases revenue by 9%. The main mechanism driving our result is that the new information prompted adopting establishments to target gender-age customer groups underserved before adoption.application/pdfeng© 2024 The University of Chicago. This author accepted manuscript is deposited under a Creative Commons Attribution Non-commercial 4.0 International (CC BY-NC) licence.InformationCompetitive marketsData sharingSmall and medium enterprisesinfo:eu-repo/semantics/article2025-02-25info:eu-repo/semantics/embargoedAccess