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Perfect information information


Chess is an example of a game of perfect information.

In economics, perfect information (sometimes referred to as "no hidden information") is a feature of perfect competition. With perfect information in a market, all consumers and producers have complete and instantaneous knowledge of all market prices, their own utility, and own cost functions.

In game theory, a sequential game has perfect information if each player, when making any decision, is perfectly informed of all the events that have previously occurred, including the "initialization event" of the game (e.g. the starting hands of each player in a card game).[1][2][3][4]

Perfect information is importantly different from complete information, which implies common knowledge of each player's utility functions, payoffs, strategies and "types". A game with perfect information may or may not have complete information.

Games where some aspect of play is hidden from opponents – such as the cards in poker and bridge – are examples of games with imperfect information.[5][6]

  1. ^ Osborne, M. J.; Rubinstein, A. (1994). "Chapter 6: Extensive Games with Perfect Information". A Course in Game Theory. Cambridge, Massachusetts: The MIT Press. ISBN 0-262-65040-1.
  2. ^ Khomskii, Yurii (2010). "Infinite Games (section 1.1)" (PDF).
  3. ^ Archived at Ghostarchive and the Wayback Machine: "Infinite Chess". PBS Infinite Series. March 2, 2017. Perfect information defined at 0:25, with academic sources arXiv:1302.4377 and arXiv:1510.08155.
  4. ^ Mycielski, Jan (1992). "Games with Perfect Information". Handbook of Game Theory with Economic Applications. Vol. 1. pp. 41–70. doi:10.1016/S1574-0005(05)80006-2. ISBN 978-0-444-88098-7.
  5. ^ Thomas, L. C. (2003). Games, Theory and Applications. Mineola New York: Dover Publications. p. 19. ISBN 0-486-43237-8.
  6. ^ Osborne, M. J.; Rubinstein, A. (1994). "Chapter 11: Extensive Games with Imperfect Information". A Course in Game Theory. Cambridge Massachusetts: The MIT Press. ISBN 0-262-65040-1.

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when there is perfect information. Perfect information means that all parties have complete knowledge. If the buyer has more information, the power to...

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maximize their payoffs. Complete information is importantly different from perfect information. In a game of complete information, the structure of the game...

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generally solving chess-like games (i.e. combinatorial games of perfect information) such as Capablanca chess and infinite chess. In a weaker sense,...

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new externality, stating that the consumer would not always have perfect information on how their own data would be used. Kenneth C. Laudon developed...

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otherwise, the game is a simultaneous move game. Perfect information: A game has perfect information if it is a sequential game and every player knows...

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games that may apply, including games with perfect information, complete information, and incomplete information. Experimental and game-theory methods have...

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basis of a clinical "educated guess" in the absence of complete or perfect information. Thus it is applied before the confirmation of a definitive medical...

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