"Markets run on information. Buyers make decisions by relying on their knowledge of the products available, and sellers … decide what to produce based on their understanding of what buyers want. But the distribution of market information has … changed, as consumers increasingly turn to sources that act as intermediaries for information--companies like Yelp and Google …

national universities and colleges. This paper utilizes this exogenous information shock to identify the impact of college … quality information on the financial resources of public colleges. Using college level data from 1987 to 1995, we have three …