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