Games Under Uncertainty
In the previous chapters, we were dealing with games with complete information, and in the case of dynamic games perfect information was also assumed. Complete information refers to games when every player knows the strategy sets and payoff functions of all players, that is, all players have complete information about the game. Perfect information refers to dynamic games when at each time period each player knows the previous strategy selections of all players and the previous chance moves if any. In short, complete information refers to the amount of information the players have about the game and perfect information refers to the amount of information the players have about the other players’ and their own previous moves (and about the possible chance moves). A game is under uncertainty if any of the above information is not available.