Perfect information

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Perfect information is a situation in which an agent has all the relevant information with which to make a decision. It has implications for several fields.

Game theory[edit]

In game theory, an extensive-form game has perfect information if each player, when making any decision, is perfectly informed of all the events that have previously occurred. [1]

Chess is an example of a game with perfect information as each player can see all of the pieces on the board at all times. Other examples of perfect games include Tic-tac-toe, Irensei, and Go. The formal definition can be easily extended to include games with exogenous uncertainty from chance events, such as in Backgammon, or simultaneous move games, such as in the iterated prisoners' dilemma, or both, such as in Goofspiel.

Card games where each player's cards are hidden from other players are examples of games with imperfect information.[2][3]

See also[edit]

References[edit]

  1. ^ Osborne, M. J.; Rubinstein, A. (1994). "Chapter 6: Extensive Games with Perfect Information". A Course in Game Theory. Cambridge M.A.: The MIT Press. ISBN 0-262-65040-1. 
  2. ^ Thomas, L. C. (2003). Games, Theory and Applications. Mineola N.Y.: Dover Publications. p. 19. ISBN 0-486-43237-8. 
  3. ^ Osborne, M. J.; Rubinstein, A. (1994). "Chapter 11: Extensive Games with Imperfect Information". A Course in Game Theory. Cambridge M.A.: The MIT Press. ISBN 0-262-65040-1. 

Further reading[edit]

  • Fudenberg, D. and Tirole, J. (1993) Game Theory, MIT Press. (see Chapter 3, sect 2.2)
  • Gibbons, R. (1992) A primer in game theory, Harvester-Wheatsheaf. (see Chapter 2)
  • Luce, R.D. and Raiffa, H. (1957) Games and Decisions: Introduction and Critical Survey, Wiley & Sons (see Chapter 3, section 2)
  • The Economics of Groundhog Day by economist D.W. MacKenzie, using the 1993 film Groundhog Day to argue that perfect information, and therefore perfect competition, is impossible.