In fact-- click on all of them. You should be able to understand why wrong answers are wrong as well as why right answers are right. A useful exercise, and possible test question, is to ask yourself how you would explain why a given answer is wrong.
After doing a few of these, you will find it easy to make up your own examples.
GAME 1
Column Left Right Up -1,-1 -10,0 Row Down 0,-10 -8,-81_1 Which of the following is true?
1_2 Which of the following is true?
A. Column has no dominated strategies.
B. Column's strategy of Left is dominated.
C. Column's strategy of Right is dominated.
1_3 In the dominant-strategy equilibrium, the payoffs of the two players are:
A. -1,-1
B. -10,0
C. -8, -8
D. 0, -10
1_4 Do you recognize this game from your reading or the lecture? You can do a positive linear transformation on the payoffs of a game without changing its essential structure. In fact, you can even do more general positive monotonic transformations, though that will affect the probabilities in a mixed strategy equilibrium. Which game is disguised under the action names of Game 1? For the answer, click here
Column Left Right Up -10,0 -1,-1 Row Down -8,-8 0,-102_1 Which of the following is true?
2_2 Which of the following is true?
A. Column has no dominated strategies.
B. Column's strategy of Left is dominated.
C. Column's strategy of Right is dominated.
2_3 The dominant-strategy equilibrium is :
A. Up, Left
B. Up, Right
C. Down, Left
D. Down, Right
2_4 Do you recognize Game 2 from your reading or the lecture? You can do a positive linear transformation on the payoffs of a game without changing its essential structure. In fact, you can even do more general positive monotonic transformations, though that will affect the probabilities in a mixed strategy equilibrium. Which game is disguised under the action names of Game 2? For the answer, click here
Column Left Right Up 3,3 4,4 Row Down 4,2 3,103_1 Which of the following is true?
3_2 Which of the following is true?
A. Column has no dominated strategies.
B. Column's strategy of Left is dominated.
C. Column's strategy of Right is dominated.
3_3 The dominant strategy equilibrium is
A. Up, Left
B. Down, Right
C. Up, Right
D. None of the above
3_4 The Nash equilibrium is
A. Up, Left
B. Up, Right
C. Down, Left
D. Down, Right
Column Left Right Up 10,3 1,1 Row Down 2,2 3,104_1 Which of the following is true?
4_2 Which of the following is true?
A. Column has no dominated strategies.
B. Column's strategy of Left is dominated.
C. Column's strategy of Right is dominated.
4_3 Which of the following are Nash equilibria?
A. Up, Left
B. Up, Right
C. Down, Left
D. Down, Right
Column Left Right Edge Up -10,0 -10,-1 -10,-1 Row Down -8,-8 0,-10 2,-1 Bottom 4, 5 7,-10 1, 15_1 Which of the following is true?
5_2 Which of the following is true?
A. Column has no dominated strategies.
B. Column's strategy of Left is dominated.
C. Column's strategy of Right is dominated.
D. Column's strategy of Edge is dominated.
5_3 Select which of the following are Nash equilibria:
A. Up, Left
B. Up, Right
C. Down, Left
D. Down, Right
E. Bottom, Left
F. Bottom, Right
G. Down, Edge
H. Bottom, Edge
I. Up, Edge
J. None of the above
Column Left Right Up 0,3 3,0 Row Down 4,0 0,46_1 Which of the following is true?
6_2 The Nash equilibrium is
A. Up, Left
B. Up, Right
C. Down, Left
D. Down, Right
E. None of the above
. http://rasmusen.org/ Last updated: 28 October 2005.