Strategic Games

Question 1

In sequential-move games, players take turns,

Answer 1

and each player observes all prior decisions of the rival before having to move.

Question 2

In simultaneous-move games, players do not observe

Answer 2

the rival’s decision before making their own

Question 3

A Nash equilibrium is a pair of strategies, one for each player, in which

Answer 3

each strategy is a best response to the other.

Question 4

When the rules of the game are flexible,

Answer 4

change them to your advantage

Question 5

In sequential games, players can change the outcome by

Answer 5

committing to a future course of actions

Question 6

Credible commitments are difficult to make because

Answer 6

they require that player threaten to act against their own self interest

Question 7

In the prisoners dilemma, conflict and cooperation are intentioned towards

Answer 7

self interest which leads the player to outcomes that no one likes.