Game theory - Quiz
  • 1. Which branch of economic theory specifically analyzes multi-agent interactions?
A) Mechanism design theory
B) Decision theory
C) Game theory
D) General equilibrium theory
  • 2. What is the primary focus of decision theory?
A) Multi-agent interactions
B) Rule creation
C) Single-player scenarios
D) Macroeconomic trade
  • 3. How does mechanism design theory differ from game theory?
A) It focuses on the consequences of different rules
B) It only addresses single-player scenarios
C) It ignores individual preferences
D) It avoids incentive modeling
  • 4. What is a 'metagame' in the context of game theory and mechanism design?
A) A game that aims to develop rules for a subject game
B) A game played by a single agent
C) A purely descriptive econometric model
D) A game with no defined rules
  • 5. What subject is explicitly listed as a focus area within mechanism design?
A) Auctions
B) Static environmental constraints
C) Single-objective optimization
D) Historical data trends
  • 6. What is the main concern of general equilibrium economists?
A) Macroeconomic issues of trade and production
B) Metagame analysis
C) Single-player preference formation
D) Individual agent belief formation
  • 7. What does DSGE stand for?
A) Dynamic stochastic general equilibrium
B) Direct simulation of general equilibrium
C) Decision-based strategic game evaluation
D) Dual-system game environment
  • 8. How does game theory differ from traditional econometric models?
A) It is purely descriptive
B) It focuses on static environments
C) It accounts for strategic interactions
D) It relies solely on historical data
  • 9. Which methodology is often used to replicate market dynamics through reward-punishment mechanisms?
A) Decision analysis
B) Traditional econometrics
C) Static optimization algorithms
D) Agent-based modeling
  • 10. What limitation do optimization algorithms have according to the text?
A) They are too dynamic
B) They analyze strategic interactions
C) They focus on multiple stakeholders
D) They assume static environments
  • 11. What is the primary field of study of game theory?
A) Pure chemistry
B) Applied mathematics
C) Theoretical physics
D) Organic biology
  • 12. What is the acronym used by Eric Rasmusen to describe the four essential elements of a game?
A) PAPI
B) PLAY
C) STRAT
D) GAMES
  • 13. Which mathematical theorem did John von Neumann use to build the foundations of game theory?
A) Brouwer fixed-point theorem
B) Pythagorean theorem
C) Fundamental theorem of calculus
D) Bayes' theorem
  • 14. In which year did John Nash, John Harsanyi, and Reinhard Selten win the Nobel Prize in economics?
A) 1944
B) 2005
C) 2012
D) 1994
  • 15. What is the term for the value a player receives for a strategy?
A) Utility outcome
B) Profit
C) Payoff
D) Revenue
  • 16. Which of the following is NOT an element of PAPI?
A) The environment
B) The choices
C) The players
D) The information
  • 17. Game theory has been applied to help understand which type of behavior in philosophy?
A) Deviant behavior
B) Ethical or normative behavior
C) Biological behavior
D) Irrational behavior
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