10 Questions
According to the Darwinian theory of evolution, which strategies or modes of behavior tend to survive over time?
The most successful strategies or modes of behavior
In the context of evolutionary biology, what does 'survival of the fittest' imply?
Actions or behavior patterns that are not best responses to the environment will eventually dominate
What aspect of strategy selection is not applicable when talking about the actions or behavior patterns of lower animals?
Relative payoffs
Which concept makes it easier to frame the discussion about the sustainability of outcomes in terms of biology and evolutionary biology?
The concept of survival of the fittest
What does the Darwinian theory suggest about outcomes that persist over time?
They are representative of the most successful strategies or modes of behavior
In the context of game theory, what is the correct terminology for the outcomes that are more compelling than others?
Nash equilibrium
In the Prisoner's Dilemma game, what happens if both suspects confess?
Both are sentenced to 6 months in jail
What type of game involves players deciding upon their actions at the same time (simultaneously)?
Simultaneous game
What is the term used to describe the strategies available to each player and the payoff received by each player for each combination of strategies in a game?
Payoff matrix
What does a Nash equilibrium in game theory signify?
A stable state where no player has an incentive to change their strategy
Test your understanding of evolutionary equilibrium in game theory and the sustainability of outcomes over time. Explore how strategies evolve in response to exogenous shocks and the concept of 'survival of the fittest' in game theory.
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