Question 1

What is the Stag Hunt in game theory?

Accepted Answer

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?

Accepted Answer

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?

Accepted Answer

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?

Accepted Answer

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?

Accepted Answer

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.

Accepted Answer

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?

Accepted Answer

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?

Accepted Answer

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.

Accepted Answer

trust, assurance

Question 10

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

Accepted Answer

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?

Accepted Answer

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.

Accepted Answer

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?

Accepted Answer

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.

Accepted Answer

highest

Question 15

Why is hunting the stag considered the 'payoff-dominant' strategy?

Accepted Answer

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

Brainscape's Knowledge GenomeTM

Game Theory - Stag Hunt Flashcards

Brainscape's Knowledge Genome^TM