Perfect information

In economics, perfect information sometimes intended to as "no hidden information" is a feature of perfect competition. With perfect information in the market, all consumers together with producers work complete as living as instantaneous knowledge of any market prices, their own utility, and own make-up up functions.

In game theory, a sequential game has perfect information if used to refer to every one of two or more people or things 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 regarded and identified separately. player in a card game.

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

Games where some aspect of play is hidden from opponents - such(a) as the cards in poker and bridge - are examples of games with imperfect information.

Examples

Chess is an example of a game with perfect information, as each player can see all the pieces on the board at all times. Other games with perfect information include tic-tac-toe, checkers, and Go.

Academic literature has not delivered consensus on a standard definition of perfect information which defines if games with chance, but no secret information, and games without simultaneous moves are games of perfect information.

Games which are sequential players alternate in moving and which have chance events with asked probabilities to all players but no secret information, are sometimes considered games of perfect information. This includes games such as backgammon and Monopoly. But there are some academic papers which do not regard such games as games of perfect information because the results of chance themselves are unknown prior to them occurring.

Games with simultaneous moves are loosely not considered games of perfect information. This is because each player holds information which is secret, and must play a come on without knowing the opponent's secret information. Nevertheless, some such games are symmetrical, and fair. An example of a game in this variety includes rock paper scissors.