Game Theory and Operations Research Quiz

What is the primary focus of Game Theory in operations research?

• Developing new mathematical equations

• Modeling and analyzing strategic interactions

• Optimizing financial investments

• Improving communication skills

In Game Theory, what term is used to describe the participants?

• Agents

• Players

• Stakeholders

• Competitors

What is a Nash equilibrium?

• A scenario where players form binding agreements

• A state where players can improve their payoffs by changing strategies

• A stable state where no player can benefit by changing their strategy

• A situation where all players have equal payoffs

Which type of game involves players making decisions without knowing others' choices?

• Asymmetric game

• Simultaneous game

• Cooperative game

• Sequential game

In a zero-sum game, what happens to the gains and losses of participants?

• They are multiplied by a factor

• They are balanced among participants

• They are shared equally

• They are independent of each other

What is the first step in applying Game Theory to operations management?

• Assign payoffs

• Analyze strategies

• Define the problem

• Identify the players

Which of the following is NOT a part of the Game Theory process in operations management?

• Developing new software

• Implementing and monitoring

• Modeling the game

• Sensitivity analysis

How can Game Theory be applied in supply chain management?

• By modeling strategic interactions among entities

• By reducing employee numbers

• By increasing production speed

• By designing new products

In which domain can Game Theory help in designing auction formats?

• Auctions

• Advertising

• Project management

• Healthcare

What is a potential benefit of applying Game Theory in healthcare?

• Balancing cost, quality, and accessibility

• Reducing the number of healthcare providers

• Increasing patient wait times

• Eliminating insurance companies