Define games of complete and incomplete information

In microeconomic analysis, the concept of games is used to model situations where multiple decision-makers interact, each with their own objectives. These decision-makers, or players, make choices that not only depend on their own strategies but also on the strategies chosen by other players. The distinction between games of complete and incomplete information is fundamental to understanding strategic behavior and the decision-making process in various economic environments.

### Games of Complete Information

A game of complete information refers to a situation in which all players are fully aware of the relevant aspects of the game when making their decisions. In this type of game, each player knows the payoff functions, the strategies available to other players, and the rules governing the interaction. The players do not possess any uncertainty about the game’s structure or the decisions that the other participants are likely to make. Essentially, complete information implies that there is no hidden or private information that could alter a player's strategy or ______ _______ ________ ______ _________ _____ ___ _________ ______ ______.
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