Game Theory Quiz

In Game Theory, the Maximin strategy is adopted by:

• The player maximizing opponent's gain

• The player maximizing their own minimum gain

• The player minimizing their maximum loss

• Both A and C

In a two-person zero-sum game, the Minmax strategy is used by:

• Row player only

• Column player only

• Both players

• The player minimizing their own maximum loss

In the Maximin-Minmax principle, a solution is found when:

• Maximin ≠ Minmax

• Maximin = Minmax

• Maximin > Minmax

• Minmax > Maximin

The value of the game is defined as:

• Maximin value

• Minmax value

• The average gain

• The common value of Maximin and Minmax

A game has a saddle point if:

• Maximin ≠ Minmax

• Maximin = Minmax

• Rows are more than columns

• Game is not solvable

A saddle point in a game is:

• Maximum in row and minimum in column

• Minimum in row and maximum in column

• Any random point

• Always negative

A game without a saddle point must be solved using:

• Decision trees

• Minmax principle

• Mixed strategies

• Pure strategies

A dominance property helps in:

• Finding payoff

• Reducing size of game matrix

• Increasing rows

• Calculating average loss

If a row in a payoff matrix is dominated, it can be:

• Added again

• Removed

• Multiplied by another row

• Swapped with a column

In dominance, if row A dominates row B, then:

• Every element in A ≥ B

• Every element in A ≤ B

• A is identical to B

• B is superior to A