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 complete life, the perfect pattern, includes old age as well as youth and maturity. The beauty of the morning and the radiance of noon are good, but it would be a very silly person who drew the curtains and turned on the light in order to shut out the tranquillity of the evening. Old age has its pleasures, which, though different, are not less than the pleasures of youth.”
—W. Somerset Maugham (1874–1965)
“When I tried to talk to my father about the kind of work I might do after college, he said, “You know, Charlotte, I’ve been giving a lot of thought to that, and it seems to me that the world really needs good, competent secretaries. Your English degree will help you.” He said this with perfect seriousness. I was an A student at Bryn Mawr ...”
—Charlotte Palmer (b. c. 1925)
“I have all my life been on my guard against the information conveyed by the sense of hearing—it being one of my earliest observations, the universal inclination of humankind is to be led by the ears, and I am sometimes apt to imagine that they are given to men as they are to pitchers, purposely that they may be carried about by them.”
—Mary Wortley, Lady Montagu (1689–1762)