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Basic Game Theory III: Games with Incomplete Information

In: Microeconomic Theory for the Social Sciences

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  • Takashi Hayashi

    (University of Glasgow)

Abstract

Until the previous chapter I have assumed that all the players or market participants have the same information. This assumption is called complete information. It means for example that firms know each other’s cost function, sellers know buyers’ willingness to pay, buyers’ know the qualities of the items being sold, bidders know each other’s valuation of the item, and so on.

Suggested Citation

  • Takashi Hayashi, 2021. "Basic Game Theory III: Games with Incomplete Information," Springer Books, in: Microeconomic Theory for the Social Sciences, chapter 0, pages 377-384, Springer.
    • Handle: RePEc:spr:sprchp:978-981-16-3541-0_24
    DOI: 10.1007/978-981-16-3541-0_24
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