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)
“All forms of government symbolize an immortal government, common to all dynasties and independent of numbers, perfect where two men exist, perfect where there is only one man.”
—Ralph Waldo Emerson (1803–1882)
“But while ignorance can make you insensitive, familiarity can also numb. Entering the second half-century of an information age, our cumulative knowledge has changed the level of what appalls, what stuns, what shocks.”
—Anna Quindlen (b. 1952)