Game Theory Basics Quiz
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Questions and Answers

In game theory, which term describes the situation when the objectives are clear but information available about alternatives and future events is incomplete?

  • Ambiguity
  • Certainty
  • Uncertainty (correct)
  • Risk

    • What does 'Payoff' refer to in game theory?

  • The probabilities associated with different actions
  • The guidelines and restrictions within a given game
  • The amount of utility (usually money) a player wins or loses at a specific stage of a game (correct)
  • The strategies chosen by the players

    • What is the common feature of strategic behavior in game theory?

  • Independence
  • Ambiguity
  • Certainty
  • Interdependence (correct)

    • What do 'Rules' represent in game theory?

    <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

    What does 'PAPI' stand for in game theory?

    <p>Players, Action, Payoff, Information</p> Signup and view all the answers

    In game theory, what term describes the situation when neither objectives are clear nor is there any complete information available?

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

    What do 'Rules' represent in game theory?

    <p>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

    What does 'PAPI' stand for in game theory?

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

    What does 'Payoff' refer to in game theory?

    <p>The amount of utility a player wins or loses at a specific stage of a game</p> Signup and view all the answers

    What is the common feature of strategic behavior in game theory?

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

    What does 'Uncertainty' refer to in game theory?

    <p>When the objectives are clear but information available about alternatives and future events is incomplete.</p> Signup and view all the answers

    What do 'Rules' represent in game theory?

    <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

    What is the common feature of strategic behavior in game theory?

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

    What does 'PAPI' stand for in game theory?

    <p>Players: Participants of a given game or games.</p> Signup and view all the answers

    In game theory, what term describes the situation when objectives are clear but information available about alternatives and future events is incomplete?

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

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