Game Theory

Description: This quiz covers the fundamental concepts and applications of Game Theory, a branch of mathematics that analyzes strategic decision-making in situations where multiple players interact.
Number of Questions: 15
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Tags: game theory strategic decision-making nash equilibrium zero-sum games cooperative games
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In a two-player zero-sum game, the payoff to one player is:

  1. Always positive

  2. Always negative

  3. Always zero

  4. Equal to the payoff of the other player


Correct Option: D
Explanation:

In a zero-sum game, the gains of one player are exactly balanced by the losses of the other player.

Which of the following is a solution concept in Game Theory that predicts the outcome of a game when players act rationally?

  1. Nash Equilibrium

  2. Minimax Theorem

  3. Prisoner's Dilemma

  4. Dominant Strategy Equilibrium


Correct Option: A
Explanation:

Nash Equilibrium is a solution concept that predicts the outcome of a game when each player's strategy is a best response to the strategies of the other players.

In a cooperative game, players can:

  1. Form binding agreements

  2. Communicate and negotiate

  3. Share information

  4. All of the above


Correct Option: D
Explanation:

In a cooperative game, players can form binding agreements, communicate and negotiate, and share information to achieve a mutually beneficial outcome.

The Prisoner's Dilemma is an example of a:

  1. Zero-sum game

  2. Cooperative game

  3. Non-cooperative game

  4. Mixed-strategy game


Correct Option: C
Explanation:

The Prisoner's Dilemma is an example of a non-cooperative game, where players have conflicting interests and cannot communicate or form binding agreements.

In a mixed-strategy game, players:

  1. Choose a single strategy with certainty

  2. Randomize their choices according to a probability distribution

  3. Can only play pure strategies

  4. None of the above


Correct Option: B
Explanation:

In a mixed-strategy game, players randomize their choices according to a probability distribution, making it difficult for opponents to predict their actions.

The Minimax Theorem provides a solution to:

  1. Zero-sum games

  2. Cooperative games

  3. Non-cooperative games

  4. Mixed-strategy games


Correct Option: A
Explanation:

The Minimax Theorem provides a solution to zero-sum games, where players aim to minimize their maximum possible loss or maximize their minimum possible gain.

Which of the following is a type of game where players' strategies are interdependent and their payoffs depend on the joint actions of all players?

  1. Zero-sum game

  2. Cooperative game

  3. Non-cooperative game

  4. Mixed-strategy game


Correct Option: B
Explanation:

In a cooperative game, players' strategies are interdependent and their payoffs depend on the joint actions of all players.

In a game with complete information, players:

  1. Have perfect knowledge of the game's rules, strategies, and payoffs

  2. Have incomplete information about the game's rules, strategies, and payoffs

  3. Have no information about the game's rules, strategies, and payoffs

  4. None of the above


Correct Option: A
Explanation:

In a game with complete information, players have perfect knowledge of the game's rules, strategies, and payoffs.

Which of the following is a type of game where players' strategies are independent and their payoffs depend only on their own actions?

  1. Zero-sum game

  2. Cooperative game

  3. Non-cooperative game

  4. Mixed-strategy game


Correct Option: C
Explanation:

In a non-cooperative game, players' strategies are independent and their payoffs depend only on their own actions.

In a game with incomplete information, players:

  1. Have perfect knowledge of the game's rules, strategies, and payoffs

  2. Have incomplete information about the game's rules, strategies, and payoffs

  3. Have no information about the game's rules, strategies, and payoffs

  4. None of the above


Correct Option: B
Explanation:

In a game with incomplete information, players have incomplete information about the game's rules, strategies, and payoffs.

Which of the following is a type of game where players can form binding agreements and share information?

  1. Zero-sum game

  2. Cooperative game

  3. Non-cooperative game

  4. Mixed-strategy game


Correct Option: B
Explanation:

In a cooperative game, players can form binding agreements and share information.

In a game with perfect information, players:

  1. Have perfect knowledge of the game's rules, strategies, and payoffs

  2. Have incomplete information about the game's rules, strategies, and payoffs

  3. Have no information about the game's rules, strategies, and payoffs

  4. None of the above


Correct Option: A
Explanation:

In a game with perfect information, players have perfect knowledge of the game's rules, strategies, and payoffs.

Which of the following is a type of game where players' strategies are interdependent and their payoffs depend on the joint actions of all players?

  1. Zero-sum game

  2. Cooperative game

  3. Non-cooperative game

  4. Mixed-strategy game


Correct Option: B
Explanation:

In a cooperative game, players' strategies are interdependent and their payoffs depend on the joint actions of all players.

In a game with incomplete information, players:

  1. Have perfect knowledge of the game's rules, strategies, and payoffs

  2. Have incomplete information about the game's rules, strategies, and payoffs

  3. Have no information about the game's rules, strategies, and payoffs

  4. None of the above


Correct Option: B
Explanation:

In a game with incomplete information, players have incomplete information about the game's rules, strategies, and payoffs.

Which of the following is a type of game where players can form binding agreements and share information?

  1. Zero-sum game

  2. Cooperative game

  3. Non-cooperative game

  4. Mixed-strategy game


Correct Option: B
Explanation:

In a cooperative game, players can form binding agreements and share information.

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