Imperfect information

Imperfect information,

Definition of Imperfect information:

  1. (In game theory) the property of certain games by which players have differing degrees of knowledge about events that have so far occurred.

  2. A situation in which some participants in a market have better or more up-to-date information about products and prices than others.

  3. Information that only reduces uncertainty but (unlike perfect information) does not eliminate it.

Meaning of Imperfect information & Imperfect information Definition