#1
In game theory, what does 'payoff' refer to?
The cost of playing the game
The benefits or gains from playing the game
The duration of the game
The number of players in the game
#2
In game theory, what does 'zero-sum game' mean?
A game where the total payoff is always zero
A game where one player's gain is equal to another player's loss
A game with no defined payoffs or outcomes
A game with infinite possibilities and outcomes
#3
In game theory, what is the 'Folk Theorem' about?
A theorem about traditional games and their origins
A theorem about the behavior of players in repeated games
A theorem about random and unpredictable strategies
A theorem about the cultural aspects of gaming
#4
What is the 'Stag Hunt' game in game theory?
A game where players cooperate for maximum collective gain
A simultaneous game with conflicting preferences between players
A game involving hunting and strategic alliances
A game with multiple rounds and strategic alliances
#5
What is the Nash equilibrium in game theory?
A strategy that guarantees a win for a player
A stable state where no player has an incentive to deviate
A strategy that always leads to a draw
A strategy that maximizes the overall payoff for all players
#6
Which game theory concept involves two players making simultaneous decisions without knowing the other player's choice?
Sequential game
Simultaneous game
Strategic game
Cooperative game
#7
What is a 'mixed strategy' in game theory?
A strategy that involves using a combination of pure strategies with specific probabilities
A strategy that is unpredictable and random
A strategy that always leads to a draw
A strategy that guarantees a win for a player
#8
In cooperative game theory, what is a 'coalition'?
A group of players working together to maximize their individual payoffs
A group of players forming alliances to ensure mutual success
A group of players in competition with each other
A group of players playing independently without interaction
#9
What is the 'Pareto efficiency' concept in game theory?
A state where one player dominates the game completely
A state where no player can be made better off without making another player worse off
A state where all players cooperate for maximum collective gain
A state where each player pursues their own individual interests
#10
In repeated games, what is the 'tit-for-tat' strategy?
A strategy where players cooperate in every round
A strategy where players mimic their opponent's previous move
A strategy where players always betray their opponent
A strategy where players randomly choose their moves
#11
What does the concept of 'dominant strategy' mean in game theory?
A strategy that is always the best regardless of the opponent's choice
A strategy that is aggressive and risky
A strategy that depends on the opponent's choice
A strategy that leads to a draw in the game
#12
What is the 'Prisoner's Dilemma' in game theory?
A situation where cooperating leads to the best outcome for both players
A situation where betraying the other player leads to the best individual outcome
A situation with a guaranteed win for one player and loss for the other
A situation where players have complete information about each other's choices
#13
What does the concept of 'subgame perfect equilibrium' imply in extensive-form games?
A strategy that guarantees a win for a player
A strategy that is unpredictable and random
A strategy that is optimal at every decision point in the game
A strategy that leads to a draw in the game
#14
What is the 'centipede game' in game theory?
A sequential game with multiple rounds where players can choose to cooperate or betray
A simultaneous game where players make decisions simultaneously
A cooperative game with a central authority determining the outcomes
A game with a circular payoff structure
#15
What is the 'Battle of the Sexes' game in game theory?
A cooperative game with gender-specific roles and payoffs
A simultaneous game with conflicting preferences between players
A game involving military strategies and alliances
A game with multiple rounds and strategic alliances
#16
What does 'asymmetric information' refer to in game theory?
A situation where players have equal knowledge about the game
A situation where one player has more information than the other
A situation with incomplete information about the game
A situation where players share information openly