Purpose. Defining the impact of information asymmetry on basic competitive strategies of market participants, as well as revealing the vector of competition change while information asymmetry increases. Methodology. The methodological basis of the study is a comparative analysis of fuel retail markets in Ukraine and passenger air transportation. These markets are considered as examples of markets characterized by different levels of information asymmetry with the same structural parameters, which makes it possible to establish the effect of information asymmetry on competition. Findings. Comparisons of the retail fuel market and the passenger air transport market indicate that information asymmetry influences market participants' choice of a basic competition strategy. Thus, information asymmetry weakens price competition and increases the non-price competition, weakening the intensity of competition between participants in market relations and creating the preconditions for increasing their dynamic competitiveness. This influence of information asymmetry on competition and social well-being is essentially positive. However, a long-lasting negative effect is also observed - information asymmetry deforms consumer perception of the market balance parameters so much that lower competitive intensity and a wide range of balance are not perceived negatively, and the seller receives a guarantee of positive economic profit. This negative effect catches on due to the spread of information asymmetry (as a profitable and legal practice) throughout the markets, ensuring its strengthening. The latter requires the development of new approaches to assessing the effectiveness of market competition while the "structure - conduct - performance" paradigm appears to be insensitive to information asymmetry effects on competition. Originality. In the course of the study we concluded that the classification of goods according to the degree of their favourability to information asymmetry into search, experience and credence goods is purely theoretical. In their pure form in practice, they are virtually not encountered; this is precisely why a special propensity curve for information asymmetry has been developed, on which goods approaching to the status of credence ones have the highest propensity for manifestations of information asymmetry. Practical value. The methodology of market research proposed in the work may be the basis for a better choice of competitive strategy by economic entities or a more effective study of the situation in the markets by consulting agencies and public authorities.

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