I think you succinctly summed up the Crux of it. The kind of begs the question of what information is relevant. When I apply for a job, I certainly don't tell the recruiter the minimum salary I would accept. When I negotiate for a house, I don't tell them my maximum theoretical offer. These information asymmetries obviously benefit me at their expense.

When I buy a 20 cent bolt for my car, I don't tell them that it's worth $20,000 to me because my car won't run without it