Y9 - Game Theory - Lesson 3 - The Winning Game

True or False:

• Game theory is used by computer scientists, mathematicians and economists to try and see how rational humans would behave in certain scenarios.

• True

• False

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

• Non zero-sum game

• Prisoners' dilemma

• Zero-sum game

Which of the following is a non zero-sum game?

• Prisoners' dilemma

• Chess

• Poker

What is the name of the famous example of game theory?

• Nash Equilibrium

• Prisoner's Dilemma

• The Monty Hall Problem

Using the payoff matrix, if Company A advertises, what is the best strategy for Company B?

• Don't Advertise

• Advertise

Using the payoff matrix, if both companies choose to advertise what would each companies profit margin be?

• £1m

• £5m

• £3M

True or False:

You can have a win-win scenario in a zero-sum game.

• True

• False