Game Theory - Stag Hunt

Question 1

What is the Stag Hunt in game theory?

Answer 1

A game that models the choice between cooperation for high rewards (hunting a stag) and safer, independent action with lower rewards (hunting a hare).

Question 2

In the Stag Hunt, what are the two main choices players have?

Answer 2

To hunt a stag (high-reward, cooperative action) or to hunt a hare (low-reward, independent action).

Question 3

What is required for a successful stag hunt in the Stag Hunt game?

Answer 3

Mutual cooperation, as hunting the stag requires both players’ effort.

Question 4

What is the payoff for both players if they both hunt the stag?

Answer 4

They each receive the highest payoff, typically (3,3), indicating mutual success.

Question 5

What happens if one player hunts the stag and the other hunts the hare?

Answer 5

The stag hunter receives nothing (0), while the hare hunter receives a small, guaranteed payoff.

Question 6

Define ‘Nash Equilibrium’ in the context of the Stag Hunt.

Answer 6

Two Nash equilibria exist: both hunting the stag (high payoff) or both hunting the hare (lower, guaranteed payoff).

Question 7

What is the ‘risk-dominant’ strategy in the Stag Hunt?

Answer 7

Hunting the hare, as it guarantees a payoff regardless of the other player’s choice.

Question 8

What is the ‘payoff-dominant’ strategy in the Stag Hunt?

Answer 8

Hunting the stag, as it provides the highest payoff but depends on mutual cooperation.

Question 9

Fill in the blank: The Stag Hunt highlights the need for ______ and ______ in cooperative situations.

Answer 9

trust, assurance

Question 10

Why might players choose the hare over the stag in the Stag Hunt?

Answer 10

If they lack trust that the other will also hunt the stag, they may choose the safer option with a guaranteed reward.

Question 11

How does the Stag Hunt model cooperation in business partnerships?

Answer 11

It represents high-stakes projects where cooperation yields the highest payoff, but independent projects (hunting hare) provide safer returns.

Question 12

Explain the role of ‘trust’ in the Stag Hunt.

Answer 12

Trust is crucial, as players must believe the other will also choose to hunt the stag for cooperation to succeed.

Question 13

What does ‘risk dominance’ mean in the Stag Hunt?

Answer 13

Choosing the safer option (hunting hare) to avoid the risk of zero payoff if the other player does not cooperate.

Question 14

Fill in the blank: In the Stag Hunt, mutual cooperation leads to the ______ payoff for both players.

Answer 14

highest

Question 15

Why is hunting the stag considered the ‘payoff-dominant’ strategy?

Answer 15

Because it provides the highest rewards, but only if both players choose it.

Question 16

What happens if both players hunt the hare?

Answer 16

They both receive a moderate, guaranteed payoff, typically (2,2), without risking cooperation.

Question 17

How does the Stag Hunt apply to environmental agreements?

Answer 17

Countries benefit from collective action (like reducing emissions), but may choose safer, individual actions if they doubt others’ commitment.

Question 18

What does the ‘fear of abandonment’ mean in the Stag Hunt?

Answer 18

Players fear being left alone hunting the stag if the other defects, resulting in no payoff.

Question 19

Why might reputation be important in repeated Stag Hunt games?

Answer 19

Building a reputation for cooperation encourages others to trust and coordinate on high-reward choices in future interactions.

Question 20

How does ‘signaling intentions’ help in the Stag Hunt?

Answer 20

Signaling allows players to assure each other of cooperation, increasing the likelihood of both choosing the stag.

Question 21

What is a real-world example of the Stag Hunt involving public goods?

Answer 21

Community projects, like funding a park, where cooperation yields high benefits but requires mutual commitment.

Question 22

Fill in the blank: The Stag Hunt models the balance between ______ and ______.

Answer 22

risk, reward

Question 23

What is an Iterated Stag Hunt?

Answer 23

A version of the game where players interact repeatedly, allowing trust to develop over time.

Question 24

How can communication impact the outcome of a Stag Hunt?

Answer 24

Communication can reassure players of each other’s intentions, increasing the chance of mutual cooperation.

Question 25

What is an example of a ‘multi-player Stag Hunt’?

Answer 25

A community working together on a shared resource, where cooperation provides high rewards but requires broad participation.

Question 26

Why is hunting a hare often seen as a ‘safe’ choice in the Stag Hunt?

Answer 26

Because it provides a guaranteed, moderate reward without depending on the other player’s choice.

Question 27

What does ‘payoff dominance’ mean in game theory?

Answer 27

Choosing an option that provides the highest possible payoff when both players coordinate, as seen in the Stag-Stag outcome.

Question 28

What is the main challenge in the Stag Hunt?

Answer 28

Deciding between a high-risk, high-reward cooperative choice (stag) and a low-risk, lower-reward independent choice (hare).

Question 29

Explain the concept of ‘mutual assurance’ in the Stag Hunt.

Answer 29

Each player needs confidence that the other will also choose the cooperative option for it to be successful.

Question 30

What is ‘fear of abandonment’ in the context of the Stag Hunt?

Answer 30

The worry that one player might choose the stag while the other defects, leaving the cooperative player with zero payoff.

Question 31

How does the Stag Hunt relate to team projects?

Answer 31

Team projects often require mutual effort for high rewards, but members may hesitate if they doubt others’ commitment.

Question 32

Fill in the blank: The Stag Hunt is a game theory model that examines cooperation under ______.

Answer 32

risk

Question 33

Why is the Stag Hunt relevant to social movements?

Answer 33

Social movements rely on collective action; individuals may only participate if they trust others will as well.

Question 34

How does risk affect decision-making in the Stag Hunt?

Answer 34

Players weigh the risk of no payoff if the other defects, versus the reward of high payoff if both cooperate.