Quiz on ” Solution Concept “

1. What is the Nash equilibrium?

a) The optimal choice for each player in a game

b) The best option in the absence of cooperation

c) A formal rule for predicting how a game will be played

2. What is a dominant strategy?

a) A strategy that is always better than any other strategy for any profile of other players' actions

b) A strategy that is sometimes better than other strategies for any profile of other players' actions

c) A strategy that is always worse than any other strategy for any profile of other players' actions

3. How do we find the equilibrium in a game of conflict?

a) By looking for the strategy that reduces our exposure to negative events

b) By looking for weakly dominant strategies and eliminating the dominated ones

c) By looking for dominant strategies and eliminating the dominated ones

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