What are some examples of public information exceeding private information?

Public information exceeding private information can be seen in various scenarios. For instance, the media often portrays events in a way that does not match their actual frequency or severity in the world. A classic example is the representation of crime rates. Despite a decline in actual crime rates, media coverage of crimes can increase, creating a perception that crime is on the rise. Another example can be seen in the stock market, where public information about a company's performance can greatly exceed the private information held by individual investors, leading to speculation and market volatility.