Module 5.1d distinction between imperfect and incomplete information
Games are classified in many ways in Game Theory. One important, but subtle distinction, when there is uncertainty in a game is the TYPE of uncertainty. Do I know (or not) the payoffs/private information of the other players? Or, do I know their payoffs, but just not where I am in the game tree? These are two different types of uncertainty , and we make a distinction between games of incomplete information and games of imperfect information to distinguish between them. This short (2 min) clip provides a quick explanation of this distinction.