Game Theory

Game theory is concerned with:

• Predicting the results of bets placed on games like roulette.

• The choice of an optimal strategy in conflict situations.

• Utility maximization by firms in perfectly competitive markets.

• The way in which a player can win every game.

Which one of the following is a part of every game theory model?

• Players

• Payoffs

• Probabilities

• Strategies

Tags

CCSS.8.EE.C.7B

In game theory, a situation in which one firm can gain only what another firm loses is called a:

• Nonzero-sum game

• Prisoners' dilemma

• Zero-sum game

• Predation game

Which of the following is a nonzero-sum game?

• Prisoners' dilemma

• Chess

• Competition among duo-polists when market share is the payoff

• All of the above

• None of the above

Which of the following circumstances will result in a Nash equilibrium?

• All players have a dominated strategy and each player chooses its dominated strategy

• All players have a dominated strategy, but only some choose to follow it

• All players have a dominated strategy, and none choose it

• None of the above is correct

A prisoners' dilemma is a game with all of the following characteristics except one. Which one is not present in a prisoners' dilemma?

• Players cooperate as their strategy.

• Both players have a dominant strategy.

• Both players would be better o if neither chose their dominant strategy.

• The payoff from a strategy depends on the choice made by the other player.

which is not a reason that game theory is used

• price fixing

• sharing markets

• rigging bids between firms

• price discrimination

which is not an example of game theory in the real world

• Visy Amcor

• international air cartel

• movie cinemas

• Alice springs car rentals

oligopolies and duopolies are

• independent

• strategically interdependent

• interdependent

• collusive

what is the best pay possible for marvel

• marvel comics 200

• dc comics 100

• marvel 300

• none of these