In economics and game theory, complete information is a term used in to describe an economic situation or game in which knowledge about other market participants or players is available to all participants. The utility functions, payoffs, strategies and "types" of players are thus common knowledge. It is often assumed that the players have some statistical information about the other players. E.g., in an auction, each player knows that the valuations of the other players are drawn from some probability distribution. In this case, the game is called a Bayesian game.