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Game Theory and Strategy · Quiz 1 · 19 Jul 2026 · May 2026 term

Question 3: An item is up for auction. Player 1 values the item at 5 …

Question 3

+2 marksOne correct option

An item is up for auction. Player 1 values the item at 5 while player 2 values the item at 4. Each player can bid either 0, 1 or 2. If player i bids more than player j then i wins the item and pays his bid, while the loser does not pay. If both players bid the same amount, then a coin is tossed to determine who the winner is, who gets the item and pays his bid while the loser pays nothing. Formulate the game in matrix form and answer the given sub questions.

Which player does not have strictly dominated strategy?

  1. A

    Player 1

  2. B

    Player 2

  3. C

    None

Show answer

Correct answer

  • B

    Player 2

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Question 3 of 16 in the IIT Madras BS Game Theory and Strategy (Game Theory) Quiz 1 paper sat on 19 Jul 2026, in the May 2026 term (Game Theory And Strategy 16 Jul 26). It carries 2 marks.

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