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Zero-Sum Games and Minimax Strategies

Description: Test your understanding of Zero-Sum Games and Minimax Strategies, fundamental concepts in Game Theory.
Number of Questions: 14
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Tags: game theory zero-sum games minimax strategies nash equilibrium
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In a zero-sum game, the gains of one player are:

  1. Exactly equal to the losses of the other player

  2. Always greater than the losses of the other player

  3. Always less than the losses of the other player

  4. Unrelated to the losses of the other player


Correct Option: A
Explanation:

In a zero-sum game, the total gains and losses of all players sum to zero, meaning that one player's gain is exactly offset by the other player's loss.

The minimax strategy in a zero-sum game aims to:

  1. Maximize the player's own gains

  2. Minimize the player's own losses

  3. Maximize the difference between the player's gains and losses

  4. Minimize the difference between the player's gains and losses


Correct Option: D
Explanation:

The minimax strategy seeks to minimize the maximum possible loss that the player can incur, ensuring that the player's worst-case scenario is as favorable as possible.

In a zero-sum game, a Nash equilibrium is a situation where:

  1. Neither player has an incentive to change their strategy

  2. Both players have an incentive to change their strategy

  3. One player has an incentive to change their strategy, but the other does not

  4. Both players have an incentive to cooperate with each other


Correct Option: A
Explanation:

A Nash equilibrium in a zero-sum game is a set of strategies where no player can improve their outcome by unilaterally changing their strategy, given the strategies of the other players.

Consider a zero-sum game with a payoff matrix (A). The minimax value of the game is:

  1. (max_{i \in I} min_{j \in J} a_{ij})

  2. (min_{i \in I} max_{j \in J} a_{ij})

  3. (max_{i \in I} max_{j \in J} a_{ij})

  4. (min_{i \in I} min_{j \in J} a_{ij})


Correct Option: B
Explanation:

The minimax value of a zero-sum game is the minimum of the maximum payoffs that the row player can guarantee, regardless of the column player's strategy.

In a zero-sum game, if the minimax value is equal to the maximin value, then:

  1. The game has a unique Nash equilibrium

  2. The game has multiple Nash equilibria

  3. The game has no Nash equilibrium

  4. The game is not a zero-sum game


Correct Option: A
Explanation:

In a zero-sum game, if the minimax value is equal to the maximin value, then the game has a unique Nash equilibrium, which is also a saddle point.

Consider a zero-sum game with a payoff matrix (A). The maximin value of the game is:

  1. (max_{i \in I} min_{j \in J} a_{ij})

  2. (min_{i \in I} max_{j \in J} a_{ij})

  3. (max_{i \in I} max_{j \in J} a_{ij})

  4. (min_{i \in I} min_{j \in J} a_{ij})


Correct Option: A
Explanation:

The maximin value of a zero-sum game is the maximum of the minimum payoffs that the column player can guarantee, regardless of the row player's strategy.

In a zero-sum game, if the minimax value is greater than the maximin value, then:

  1. The game has a unique Nash equilibrium

  2. The game has multiple Nash equilibria

  3. The game has no Nash equilibrium

  4. The game is not a zero-sum game


Correct Option: C
Explanation:

In a zero-sum game, if the minimax value is greater than the maximin value, then the game has no Nash equilibrium.

Consider a zero-sum game with a payoff matrix (A). The saddle point of the game is a pair of strategies ((i^, j^)) such that:

  1. (a_{i^j^} \ge a_{ij} \quad \forall i \in I, j \in J)

  2. (a_{i^j^} \le a_{ij} \quad \forall i \in I, j \in J)

  3. (a_{i^j^} \ge a_{ij} \quad \forall i \in I)

  4. (a_{i^j^} \le a_{ij} \quad \forall j \in J)


Correct Option: A
Explanation:

A saddle point in a zero-sum game is a pair of strategies ((i^, j^)) such that the row player's payoff is maximized and the column player's payoff is minimized.

In a zero-sum game, if the game has a saddle point, then:

  1. The minimax value is equal to the maximin value

  2. The minimax value is greater than the maximin value

  3. The minimax value is less than the maximin value

  4. The minimax value is unrelated to the maximin value


Correct Option: A
Explanation:

In a zero-sum game, if the game has a saddle point, then the minimax value is equal to the maximin value, and the saddle point is a Nash equilibrium.

Consider a zero-sum game with a payoff matrix (A). The value of the game is:

  1. (max_{i \in I} min_{j \in J} a_{ij})

  2. (min_{i \in I} max_{j \in J} a_{ij})

  3. (max_{i \in I} max_{j \in J} a_{ij})

  4. (min_{i \in I} min_{j \in J} a_{ij})


Correct Option: B
Explanation:

The value of a zero-sum game is the minimax value, which is the minimum of the maximum payoffs that the row player can guarantee, regardless of the column player's strategy.

In a zero-sum game, if the game has multiple Nash equilibria, then:

  1. The minimax value is equal to the maximin value

  2. The minimax value is greater than the maximin value

  3. The minimax value is less than the maximin value

  4. The minimax value is unrelated to the maximin value


Correct Option: A
Explanation:

In a zero-sum game, if the game has multiple Nash equilibria, then the minimax value is equal to the maximin value, and all Nash equilibria are saddle points.

Consider a zero-sum game with a payoff matrix (A). If the game has a unique Nash equilibrium, then:

  1. The minimax value is equal to the maximin value

  2. The minimax value is greater than the maximin value

  3. The minimax value is less than the maximin value

  4. The minimax value is unrelated to the maximin value


Correct Option: A
Explanation:

In a zero-sum game, if the game has a unique Nash equilibrium, then the minimax value is equal to the maximin value, and the Nash equilibrium is a saddle point.

In a zero-sum game, if the minimax value is less than the maximin value, then:

  1. The game has a unique Nash equilibrium

  2. The game has multiple Nash equilibria

  3. The game has no Nash equilibrium

  4. The game is not a zero-sum game


Correct Option: C
Explanation:

In a zero-sum game, if the minimax value is less than the maximin value, then the game has no Nash equilibrium.

Consider a zero-sum game with a payoff matrix (A). If the game has no Nash equilibrium, then:

  1. The minimax value is equal to the maximin value

  2. The minimax value is greater than the maximin value

  3. The minimax value is less than the maximin value

  4. The minimax value is unrelated to the maximin value


Correct Option: D
Explanation:

In a zero-sum game, if the game has no Nash equilibrium, then the minimax value is unrelated to the maximin value.

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