#1
What is a dominant strategy in game theory?
A strategy that guarantees a player will win
A strategy that is the best response regardless of what the other players do
A strategy that is always worse than other strategies
A strategy that relies on random choices
#2
What is the Nash Equilibrium in game theory?
A strategy profile where no player has an incentive to unilaterally deviate from their chosen strategy
A strategy profile where each player is guaranteed to win
A strategy profile where all players choose the same strategy
A strategy profile where each player maximizes their own payoff without considering others
#3
Which game theory concept deals with the study of outcomes when multiple players interact?
Pareto efficiency
Minimax theorem
Zero-sum game
Non-cooperative game theory
#4
In the Prisoner's Dilemma, what is the optimal strategy for both players?
Betray the other prisoner
Stay silent
Randomly choose whether to betray or stay silent
Cooperate with the other prisoner
#5
What is a zero-sum game in game theory?
A game where the sum of players' payoffs is always zero
A game where one player's gain is exactly balanced by another player's loss
A game with no clear winning strategy
A game where players cannot communicate with each other
#6
Which game theory concept deals with situations where cooperation could lead to better outcomes, but there's risk of betrayal?
Prisoner's Dilemma
Chicken game
Stag Hunt
Tragedy of the Commons
#7
What does the concept of 'perfect information' mean in game theory?
Players have complete information about the game, including the strategies chosen by others
Players have no information about the game
Players have limited information about the game
Players have information only about their own payoffs
#8
Which game theory concept focuses on situations where cooperation benefits all players, but self-interest may lead to defection?
Nash Equilibrium
Social dilemma
Zero-sum game
Perfect competition
#9
What does 'minimax' refer to in game theory?
Minimizing the maximum possible loss
Maximizing the minimum possible gain
Balancing between minimizing and maximizing payoffs
Selecting the strategy with the minimum possible payoff
#10
What does the 'invisible hand' refer to in game theory?
A metaphor for the self-regulating nature of markets
A strategy in cooperative game theory
A concept in zero-sum games
A term for hidden information in games
#11
What is a mixed strategy in game theory?
A strategy that involves elements of both cooperation and competition
A strategy where players choose their actions randomly according to a probability distribution
A strategy that is always suboptimal
A strategy that guarantees a player's victory
#12
What is the essence of backward induction in game theory?
Starting from the end of the game and reasoning backward to determine optimal strategies
Moving forward through each step of the game to find the optimal outcome
Analyzing each player's dominant strategy
Choosing random strategies without considering the consequences
#13
What is a subgame perfect equilibrium in game theory?
A strategy that guarantees a player's victory in any subgame
A strategy where no player has an incentive to unilaterally deviate from their chosen strategy in any subgame
A strategy that maximizes the total payoff for all players
A strategy that relies on random choices in subgames
#14
What is the concept of a dominant strategy equilibrium in game theory?
A situation where every player's strategy is dominant
A situation where one player's strategy is dominant and other players have no incentive to deviate from their strategies
A situation where players do not have dominant strategies
A situation where players have no incentive to cooperate
#15
What is the 'minimax theorem' in game theory?
A theorem that guarantees the existence of a Nash Equilibrium in every finite game
A theorem that provides a method to determine the optimal strategy for a player in a zero-sum game
A theorem that proves the efficiency of Pareto-optimal outcomes
A theorem that demonstrates the existence of a subgame perfect equilibrium in extensive-form games