What a game is
1.[2p] What distinguishes a game from an ordinary decision problem?
What distinguishes a game from an ordinary decision problem?
The answer is: The payoff to your choice depends on choices made by others who are reasoning about you
The answer is: The payoff to your choice depends on choices made by others who are reasoning about you
The answer is: The payoff to your choice depends on choices made by others who are reasoning about you
2.[1p] In a cell written 10.2, 2.7, which payoff belongs to whom?
In a cell written 10.2, 2.7, which payoff belongs to whom?
The answer is: 10.2 is the row player's and 2.7 is the column player's
The answer is: 10.2 is the row player's and 2.7 is the column player's
The answer is: 10.2 is the row player's and 2.7 is the column player's
3.[2p] Two airlines split 200 passengers evenly at equal fares, and an undercutter takes 170. A fare of £120 or £90 faces a cost of £50 per passenger. If A charges £90 and B charges £120, what is A's profit in pounds?
Two airlines split 200 passengers evenly at equal fares, and an undercutter takes 170. A fare of £120 or £90 faces a cost of £50 per passenger. If A charges £90 and B charges £120, what is A's profit in pounds?
4.[3p] A player with utility faces a coin flip between £25 and £225. What certain sum in pounds is that gamble worth to them?
A player with utility faces a coin flip between £25 and £225. What certain sum in pounds is that gamble worth to them?
5.[2p] Which changes to one player's payoff numbers leave the game strategically identical?
Which changes to one player's payoff numbers leave the game strategically identical?
Select all that apply
The answer is: Multiplying every payoff by 2, Adding 7 to every payoff
The answer is: Multiplying every payoff by 2, Adding 7 to every payoff
6.[1p] A cell reading 9.0, 9.0 tells you the two players are equally well off.
A cell reading 9.0, 9.0 tells you the two players are equally well off.
The answer is: False
7.[1p] A game has three players, with 3, 4 and 2 strategies respectively. How many strategy profiles does it have?
A game has three players, with 3, 4 and 2 strategies respectively. How many strategy profiles does it have?
8.[2p] Common knowledge of the game means
Common knowledge of the game means
The answer is: everyone knows the game, everyone knows that everyone knows, and so on without limit
The answer is: everyone knows the game, everyone knows that everyone knows, and so on without limit
The answer is: everyone knows the game, everyone knows that everyone knows, and so on without limit
9.[3p] Match each term to what it names.
Match each term to what it names.
Strategy profile
Payoff function
Normal form
Strategy
players, strategy sets and payoffs
one strategy chosen for every player
a number for each complete profile
a complete contingent plan of action
Show the answer
Strategy profile: one strategy chosen for every player Payoff function: a number for each complete profile Normal form: players, strategy sets and payoffs Strategy: a complete contingent plan of action