Complete Vs. Perfect Information
Complete and perfect information are importantly different. In a game of complete information, the structure of the game and the payoff functions of the players are commonly known but players may not see all of the moves made by other players (for instance, the initial placement of ships in Battleship); there may also be a chance element (as in most card games). Games of incomplete information arise most frequently in social science rather than as games in the narrow sense. For instance, Harsanyi was motivated by consideration of arms control negotiations, where the players may be uncertain both of the capabilities of their opponents and of their desires and beliefs. Games of incomplete information can be converted into games of complete but imperfect information under the "common prior assumption." This assumption is commonly made for pragmatic reasons, but its justification remains controversial.
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Famous quotes containing the words complete, perfect and/or information:
“The history of any nation follows an undulatory course. In the trough of the wave we find more or less complete anarchy; but the crest is not more or less complete Utopia, but only, at best, a tolerably humane, partially free and fairly just society that invariably carries within itself the seeds of its own decadence.”
—Aldous Huxley (1894–1963)
“That perfect bliss and sole felicity,
The sweet fruition of an earthly crown.”
—Christopher Marlowe (1564–1593)
“In the information age, you don’t teach philosophy as they did after feudalism. You perform it. If Aristotle were alive today he’d have a talk show.”
—Timothy Leary (b. 1920)