The Staggers Rail Act (1980) permitted confidential railroad contracts. Later legislation required disclosure of certain contract terms to allay small shipper claims of injury. This study uses experimental economics to analyze the effects of information disclosure. An oligopolistic market structure vas designed to simulate the market for rail services in the south/central Great Plains. Contract information vas disclosed to market participants under three scenarios: no disclosure, partial disclosure, and full disclosure. The analysis revealed favorable impacts on efficiency but no discernable effect on negotiated prices. An unexpected outcome vas profit enhancement by some participants under the partial disclosure format