 Consider full information. Information is a good that can be traded on the market itself. Obtaining information can be costly and time consuming. Indeed, information is the main commodity that universities trade in: students pay tuition in order to obtain information about their topics of study. The fair price for a university education may indeed differ from that which we find in current markets, but this does not mean that professors’ cannot profit from their own informational endowments. Of course, some informational asymmetries are indeed unfair. Asymmetries introduced by deception, for example, are characteristic of fraudulent transactions. There may also be moral limits on the returns one can enjoy from informational asymmetries. But the point is that mere asymmetries of information are not always unfair.