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:
“We have lost the art of living; and in the most important science of all, the science of daily life, the science of behaviour, we are complete ignoramuses. We have psychology instead.”
—D.H. (David Herbert)
“The most perfect caricature is that which, on a small surface, with the simplest means, most accurately exaggerates, to the highest point, the peculiarities of a human being, at his most characteristic moment in the most beautiful manner.”
—Max Beerbohm (1872–1956)
“Theories of child development and guidelines for parents are not cast in stone. They are constantly changing and adapting to new information and new pressures. There is no “right” way, just as there are no magic incantations that will always painlessly resolve a child’s problems.”
—Lawrence Kutner (20th century)