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:
“‘Tis chastity, my brother, chastity.
She that has that is clad in complete steel,
And like a quivered nymph with arrows keen
May trace huge forests and unharbored heaths,
Infamous hills and sandy perilous wilds,
Where, through the sacred rays of chastity,
No savage fierce, bandit, or mountaineer
Will dare to soil her virgin purity.”
—John Milton (1608–1674)
“A pregnant woman and her spouse dream of three babies—the perfect four-month-old who rewards them with smiles and musical cooing, the impaired baby, who changes each day, and the mysterious real baby whose presence is beginning to be evident in the motions of the fetus.”
—T. Berry Brazelton (20th century)
“Knowledge is of two kinds. We know a subject ourselves, or we know where we can find information upon it.”
—Samuel Johnson (1709–1784)