Perfect information
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Perfect information is a term used in economics and game theory to describe a state of complete knowledge about the actions of other players that is instantaneously updated as new information arises.
Chess, Irensei and Go are canonical examples of games with perfect information, in contrast to, for example, the prisoner's dilemma.
In microeconomics, a state of perfect information is required for perfect competition. That is, assuming that all agents are rational and have perfect information,...
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