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Introduction to Game Theory Concepts

This quiz covers fundamental concepts in Game Theory, including strategies, equilibrium, information structures, and key theorems used in strategic decision-making.

14 Questions Published
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Questions

Question 1 Multiple Choice (Single Answer)

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
Question 2 Multiple Choice (Single Answer)

The Nash Equilibrium in a game is:

  1. A set of strategies where no player can improve their outcome by changing their strategy unilaterally
  2. A set of strategies where all players have the same payoff
  3. A set of strategies where the total payoff is maximized
  4. A set of strategies where the total payoff is minimized
Question 3 Multiple Choice (Single Answer)

The Prisoner's Dilemma is an example of a:

  1. Zero-sum game
  2. Non-zero-sum game
  3. Cooperative game
  4. Non-cooperative game
Question 4 Multiple Choice (Single Answer)

In a cooperative game, the players:

  1. Can communicate and make binding agreements
  2. Cannot communicate or make binding agreements
  3. Can communicate but cannot make binding agreements
  4. Cannot communicate but can make binding agreements
Question 5 Multiple Choice (Single Answer)

Game Theory is used in a variety of fields, including:

  1. Economics
  2. Political Science
  3. Biology
  4. All of the above
Question 6 Multiple Choice (Single Answer)

In a game with complete information, the players:

  1. Know all the payoffs and strategies of the other players
  2. Know only their own payoffs and strategies
  3. Know only the payoffs of the other players
  4. Know only the strategies of the other players
Question 7 Multiple Choice (Single Answer)

In a game with incomplete information, the players:

  1. Do not know all the payoffs and strategies of the other players
  2. Know only their own payoffs and strategies
  3. Know only the payoffs of the other players
  4. Know only the strategies of the other players
Question 8 Multiple Choice (Single Answer)

A mixed strategy in a game is:

  1. A strategy where the player chooses a single action with probability 1
  2. A strategy where the player chooses a single action with probability less than 1
  3. A strategy where the player chooses multiple actions with probability 1
  4. A strategy where the player chooses multiple actions with probability less than 1
Question 9 Multiple Choice (Single Answer)

The minimax theorem states that:

  1. In a two-player zero-sum game, each player has a strategy that guarantees them a certain minimum payoff, regardless of the strategy of the other player
  2. In a two-player zero-sum game, each player has a strategy that guarantees them a certain maximum payoff, regardless of the strategy of the other player
  3. In a two-player non-zero-sum game, each player has a strategy that guarantees them a certain minimum payoff, regardless of the strategy of the other player
  4. In a two-player non-zero-sum game, each player has a strategy that guarantees them a certain maximum payoff, regardless of the strategy of the other player
Question 10 Multiple Choice (Single Answer)

The Nash Bargaining Solution is a method for:

  1. Finding a fair allocation of payoffs in a cooperative game
  2. Finding a fair allocation of payoffs in a non-cooperative game
  3. Finding a Nash Equilibrium in a cooperative game
  4. Finding a Nash Equilibrium in a non-cooperative game
Question 11 Multiple Choice (Single Answer)

The Shapley Value is a method for:

  1. Measuring the power of a player in a cooperative game
  2. Measuring the power of a player in a non-cooperative game
  3. Finding a Nash Equilibrium in a cooperative game
  4. Finding a Nash Equilibrium in a non-cooperative game
Question 12 Multiple Choice (Single Answer)

Game Theory has been used to study a wide range of real-world problems, including:

  1. Auctions
  2. Bargaining
  3. Pricing
  4. All of the above
Question 13 Multiple Choice (Single Answer)

Game Theory is a relatively new field of study, with most of the major developments occurring in the:

  1. 19th century
  2. 20th century
  3. 21st century
  4. None of the above
Question 14 Multiple Choice (Single Answer)

Some of the most famous game theorists include:

  1. John von Neumann
  2. Oskar Morgenstern
  3. John Nash
  4. All of the above
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