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Perfect information

Perfect information is a concept in game theory and economics that describes a situation where all players in a game or all participants in a market have knowledge of all relevant information in the system. This is different than complete information, which implies common knowledge of each agent's utility functions, payoffs, strategies and "types". A system with perfect information may or may not have complete information.

Examples
is a game of perfect information. Chess is an example of a game with perfect information, as each player can see all the pieces on the board at all times. Games which are sequential (players alternate in moving) and which have chance events (with known probabilities to all players) but no secret information, are sometimes considered games of perfect information. This includes games such as backgammon. However, some academic papers 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 generally not considered games of perfect information. This is because each player holds information, which is secret, and must play a move without knowing the opponent's secret information. Nevertheless, some such games are symmetrical, and fair. An example of a game in this category is rock paper scissors. ==See also==
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