Game Theory Basics Quiz
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Questions and Answers

What does risk involve according to the given text?

  • Clear-cut goals and complete information (correct)
  • Unclear goals and incomplete information
  • Subject to chance objectives and complete information
  • Complete information but unclear goals

    • What does uncertainty involve according to the given text?

  • Incomplete information but clear objectives (correct)
  • Clear objectives and complete information
  • Unclear objectives and incomplete information
  • Complete information and objectives subject to chance

    • What is ambiguity according to the given text?

  • Clear objectives and complete information
  • Unclear objectives and incomplete information (correct)
  • Complete information and objectives subject to chance
  • Incomplete information but clear objectives

    • What does 'PAPI' stand for according to the given text?

    <p>Participants, Actions, Payoffs, Information</p> Signup and view all the answers

    What do rules govern within a game or games according to the given text?

    <p>Restrictions and guidelines</p> Signup and view all the answers

    What is the general theory of strategic behavior with a common feature of interdependence called?

    <p>Risk</p> Signup and view all the answers

    When is risk reduced according to the given text?

    <p>When requirements for information are available and objectives are clear-cut.</p> Signup and view all the answers

    What governs how players choose their strategies, perceive their utility and payoffs, and eventually the outcome of the game?

    <p>Information</p> Signup and view all the answers

    What does uncertainty involve according to the given text?

    <p>Objectives are not clear and there's no complete information available.</p> Signup and view all the answers

    What are rules according to the given text?

    <p>The guidelines and restrictions of who can do what and when they can do it within a given game or games.</p> Signup and view all the answers

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