Question 1

A strategy in which you do to your opponent in this period what your opponent did to you in the last period is a:

Accepted Answer

A) live-and-let-live strategy 
B) shoot-to-kill strategy. 
C) grim trigger strategy. 
D) tit-for-tat strategy. 
A) live-and-let-live strategy 
B) shoot-to-kill strategy. 
C) grim trigger strategy. 
D) tit-for-tat strategy.

Question 2

In the following games, all payoffs are listed with the row player's payoffs first and the column player's payoffs second (36-40).  
-In Game 5 above, in the Nash equilibrium in mixed strategies

Accepted Answer

A) player A chooses A1 with a 2/9 probability. 
B) player A chooses A1 with a 3/9 probability. 
C) player A chooses A1 with a 4/9 probability. 
D) player A chooses A1 with a 5/9 probability. 
A) player A chooses A1 with a 2/9 probability. 
B) player A chooses A1 with a 3/9 probability. 
C) player A chooses A1 with a 4/9 probability. 
D) player A chooses A1 with a 5/9 probability.

Question 3

In the following games, all payoffs are listed with the row player's payoffs first and the column player's payoffs second (36-40).  
-In Game 5 above, if the players move sequentially with Player B choosing first, the Nash equilibrium will be

Accepted Answer

A) Player A choosing A1 and Player B choosing B1. 
B) Player A choosing A1 and Player B choosing B2. 
C) Player A choosing A2 and Player B choosing B1. 
D) Player A choosing A2 and Player B choosing B2. 
A) Player A choosing A1 and Player B choosing B1. 
B) Player A choosing A1 and Player B choosing B2. 
C) Player A choosing A2 and Player B choosing B1. 
D) Player A choosing A2 and Player B choosing B2.

Question 4

A game tree is:

Accepted Answer

A) a diagram that shows the different strategies that each player can follow in a game and the viability of those strategies for each player. 
B) a diagram that shows the different strategies that each player can follow in a game and the probability that each player will choose each strategy. 
C) a diagram that shows the different strategies that each player can follow in a game and the order in which those strategies get chosen. 
D) a diagram that shows the optimal strategy for each player. 
A) a diagram that shows the different strategies that each player can follow in a game and the viability of those strategies for each player. 
B) a diagram that shows the different strategies that each player can follow in a game and the probability that each player will choose each strategy. 
C) a diagram that shows the different strategies that each player can follow in a game and the order in which those strategies get chosen. 
D) a diagram that shows the optimal strategy for each player.

Question 5

The likelihood of a cooperative outcome in a repeated prisoners' dilemma type game increases when:

Accepted Answer

A) interactions between the players are frequent. 
B) the players are impatient. 
C) cheating is not detectable. 
D) there is a large gain from cheating. 
A) interactions between the players are frequent. 
B) the players are impatient. 
C) cheating is not detectable. 
D) there is a large gain from cheating.

Question 6

In the following games, all payoffs are listed with the row player's payoffs first and the column player's payoffs second (36-40).  
-In Game 5 above,

Accepted Answer

A) Player A has a dominant strategy. 
B) Player B has a dominant strategy. 
C) Both players have dominant strategies. 
D) Neither player has a dominant strategy. 
A) Player A has a dominant strategy. 
B) Player B has a dominant strategy. 
C) Both players have dominant strategies. 
D) Neither player has a dominant strategy.

Question 7

In the following games, all payoffs are listed with the row player's payoffs first and the column player's payoffs second.  
-In Game 3 above,

Accepted Answer

A) A1 is a dominated strategy for Player A 
B) A2 is a dominated strategy for Player A 
C) A3 is a dominated strategy for Player A 
D) Player A has no dominated strategies. 
A) A1 is a dominated strategy for Player A 
B) A2 is a dominated strategy for Player A 
C) A3 is a dominated strategy for Player A 
D) Player A has no dominated strategies.

Question 8

In the following games, all payoffs are listed with the row player's payoffs first and the column player's payoffs second.  
-In Game 3 above,

Accepted Answer

A) Player A has a dominant strategy. 
B) Player B has a dominant strategy. 
C) Both players have a dominant strategy. 
D) Neither player has a dominant strategy. 
A) Player A has a dominant strategy. 
B) Player B has a dominant strategy. 
C) Both players have a dominant strategy. 
D) Neither player has a dominant strategy.

Question 9

Under a mixed strategy,

Accepted Answer

A) players move sequentially. 
B) a player chooses among two or more pure strategies according to pre-specified probabilities. 
C) the players may never reach a Nash equilibrium. 
D) players obtain lower payoffs than in a pure strategy equilibrium. 
A) players move sequentially. 
B) a player chooses among two or more pure strategies according to pre-specified probabilities. 
C) the players may never reach a Nash equilibrium. 
D) players obtain lower payoffs than in a pure strategy equilibrium.

A strategy in which you do to your opponent in this period what your opponent did to you in the last period is a:

In the following games, all payoffs are listed with the row player's payoffs first and the column player's payoffs second (36-40). -In Game 5 above, in the Nash equilibrium in mixed strategies

In the following games, all payoffs are listed with the row player's payoffs first and the column player's payoffs second (36-40). -In Game 5 above, if the players move sequentially with Player B choosing first, the Nash equilibrium will be

A game tree is:

The likelihood of a cooperative outcome in a repeated prisoners' dilemma type game increases when:

In the following games, all payoffs are listed with the row player's payoffs first and the column player's payoffs second (36-40). -In Game 5 above,

In the following games, all payoffs are listed with the row player's payoffs first and the column player's payoffs second. -In Game 3 above,

In the following games, all payoffs are listed with the row player's payoffs first and the column player's payoffs second. -In Game 3 above,

Under a mixed strategy,

Analyzing Economic Problems

Demand and Supply Analysis

Consumer Preferences and the Concept of Utility

Consumer Choice

The Theory of Demand

Inputs and Production Functions

Costs and Cost Minimization

Cost Curves

Perfectly Competitive Markets

Competitive Markets: Applications

Monopoly and Monopsony

Capturing Surplus

Market Structure and Competition

Risk and Information

General Equilibrium Theory

Externalities and Public Goods

Filters

Exam 14: Game Theory and Strategic Behavior

A strategy in which you do to your opponent in this period what your opponent did to you in the last period is a:

In the following games, all payoffs are listed with the row player's payoffs first and the column player's payoffs second (36-40). -In Game 5 above, in the Nash equilibrium in mixed strategies

In the following games, all payoffs are listed with the row player's payoffs first and the column player's payoffs second (36-40). -In Game 5 above, if the players move sequentially with Player B choosing first, the Nash equilibrium will be

A game tree is:

The likelihood of a cooperative outcome in a repeated prisoners' dilemma type game increases when:

In the following games, all payoffs are listed with the row player's payoffs first and the column player's payoffs second (36-40). -In Game 5 above,

In the following games, all payoffs are listed with the row player's payoffs first and the column player's payoffs second. -In Game 3 above,

In the following games, all payoffs are listed with the row player's payoffs first and the column player's payoffs second. -In Game 3 above,

Under a mixed strategy,

Analyzing Economic Problems

Demand and Supply Analysis

Consumer Preferences and the Concept of Utility

Consumer Choice

The Theory of Demand

Inputs and Production Functions

Costs and Cost Minimization

Cost Curves

Perfectly Competitive Markets

Competitive Markets: Applications

Monopoly and Monopsony

Capturing Surplus

Market Structure and Competition

Risk and Information

General Equilibrium Theory

Externalities and Public Goods

Filters