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Game Theory and Strategy · Quiz 1 · 27 Oct 2024 · September 2024 term

Question 1: Which player does not have strictly dominated strategy?

Question 1

+1 markOne correct option

An item is up for auction. Player 1 values the item at 3 while player 2 values the item at 5. Each player can bid either 0, 1 or 2. If player i bids more than player j then i wins the good 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 good and pays his bid while the loser pays nothing. Formulate the game in matrix form and answer the given subquestions.

Which player does not have strictly dominated strategy?

  1. A

    Player 1

  2. B

    Player 2

  3. C

    None

Show answer

Correct answer

  • A

    Player 1

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Question 1 of 20 in the IIT Madras BS Game Theory and Strategy (Game Theory) Quiz 1 paper sat on 27 Oct 2024, in the September 2024 term (IIT M DEGREE AN EXAM QDB2 27 Oct 2024). It carries 1 mark.

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