The assumption of perfect information is still useful as long state actors maintain market conditions for that. Bangladesh example: Consumers didn't know about

The assumption of perfect information is still useful as long state actors maintain market conditions for that. Bangladesh example: Consumers didn't know about lead in turmeric. After the information campaign consumers know about lead in turmeric but not whether a specific seller offers lead-free turmeric. After the raids consumers know that they can usually trust turmeric to be lead-free. The assumption of perfectly rational actors is not so useful. However there's another solution. State actors should control confusopoly. That's a lot more difficult, but if the market is not too complex, one can assume consumers are mostly rational. In other words: in reality the assumptions are not assumptions but preconditions for a free market.