from Part III - Extensions
Published online by Cambridge University Press: 14 March 2026
So far, we have assumed that players have complete information about economic environments. This assumption is stringent when we want to analyse bargaining situations in the real world. There are many uncertain events in actual bargaining problems. Players have only imperfect information on uncertainties. Furthermore, they have different information. In such situations, it is said that players have incomplete information, which is also called asymmetric information when we want to emphasise the asymmetry of players’ information.
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