Game Theory and Decision Making Quiz
Test your knowledge with 14 questions on game theory concepts, strategies, and the minds behind its development. Are you ready to play?
#1
What does the 'Minimax' strategy in game theory entail?
Maximizing the opponent's loss
Minimizing one's own potential loss
Maximizing one's own potential gain
Balancing gains and losses
#2
Which of the following is NOT an application of game theory?
Economics
Biology
Physics
Astronomy
#3
Which branch of mathematics is heavily utilized in game theory?
Calculus
Number theory
Graph theory
Set theory
#4
What is 'Game Theory' primarily concerned with?
Analyzing individual decision-making in isolation
Modeling interactions between rational decision-makers
Studying random outcomes in decision-making scenarios
Predicting outcomes of games of chance
#5
In game theory, what does the 'Nash Equilibrium' represent?
A situation where no player has an incentive to change their strategy unilaterally
A strategy that always leads to a win for a player
A game with multiple equilibrium points
A strategy where players collaborate for mutual benefit
#6
Which of the following is NOT a basic concept in game theory?
Zero-sum game
Payoff matrix
Normal distribution
Mixed strategy
#7
What is a dominant strategy in game theory?
A strategy that always results in a win
A strategy that is superior regardless of the choices of other players
A strategy that ensures maximum cooperation
A strategy that involves random decision-making
#8
What is the 'Prisoner's Dilemma' in game theory?
A situation where cooperation leads to the best outcome for all players
A scenario where each player individually chooses to betray the other, even though both would be better off cooperating
A game where players can communicate and negotiate openly
A situation where players always trust each other
#9
What does 'Pareto Efficiency' signify in game theory?
A state where no player can be made better off without making another player worse off
A strategy that guarantees victory for one player
A situation where players compromise for mutual gain
A scenario where players strive for equal outcomes
#10
What is 'Sequential Rationality' in game theory?
A strategy that prioritizes immediate gains over long-term benefits
A strategy that involves making decisions based on incomplete information
A principle stating that players make optimal decisions at each step, taking into account the decisions of others
A strategy focused on maximizing the opponent's loss
#11
What does 'Bayesian Nash Equilibrium' involve in game theory?
A strategy where players update their beliefs based on observed actions
A strategy that guarantees victory for one player regardless of others' actions
A situation where players reveal their true preferences openly
A strategy where players always trust each other unconditionally
#12
What is 'Coase Theorem' in game theory?
A principle stating that players cooperate for mutual benefit
A theorem concerning the efficient allocation of resources in the presence of externalities
A strategy where players aim to minimize losses
A scenario where players negotiate for equal outcomes
#13
What is 'Stackelberg competition' in game theory?
A scenario where players compete simultaneously
A situation where one player makes decisions first, and the other player(s) follow
A game involving hierarchical decision-making
A strategy where players aim to match the opponent's actions
#14
What does the 'Centipede game' represent in game theory?
A sequential game where players take turns making decisions
A cooperative game where players work together to achieve a common goal
A competitive game where players strive to outperform each other
A game involving only two players
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