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Exam 20: Game Theory, Strategic Decision Making, and Behavioral Economics

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Exam 1: Economics and Economic Reasoning37 Questionsadd course
Exam 2: The Production Possibility Model, Trade and Globalization22 Questionsadd course
Exam 3: Economic Institutions19 Questionsadd course
Exam 4: Supply and Demand31 Questionsadd course
Exam 5: Using Supply and Demand27 Questionsadd course
Exam 6: Describing Supply and Demand: Elasticities40 Questionsadd course
Exam 7: Taxation and Government Intervention32 Questionsadd course
Exam 8: Market Failure Versus Government Failure38 Questionsadd course
Exam 9: International Trade Policy, Comparative Advantage, and Outsourcing13 Questionsadd course
Exam 10: International Trade Policy24 Questionsadd course
Exam 11: Production and Cost Analysis I34 Questionsadd course
Exam 12: Production and Cost Analysis II23 Questionsadd course
Exam 13: Perfect Competition35 Questionsadd course
Exam 14: Monopoly47 Questionsadd course
Exam 15: Monopolistic Competition and Oligopoly33 Questionsadd course
Exam 16: Real-World Competition and Technology22 Questionsadd course
Exam 17: Work and the Labor Market38 Questionsadd course
Exam 18: Who Gets What the Distribution of Income34 Questionsadd course
Exam 19: The Logic of Individual Choice: the Foundation of Supply and Demand36 Questionsadd course
Exam 20: Game Theory, Strategic Decision Making, and Behavioral Economics27 Questionsadd course
Exam 21: Thinking Like a Modern Economist30 Questionsadd course
Exam 22: Behavioral Economic Policy39 Questionsadd course
Exam 23: Microeconomic Policy, Economic Reasoning, and Beyond23 Questionsadd course
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Why is the standard model of economic choice relevant even if the findings of behavioral economists are true for many individuals?

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Question 21

Why is game theory more flexible than standard models of market behavior?

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Question 22

What is the difference between sequential games and simultaneous move games? Give an example of each type of game.

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Question 23

Give an example of the prisoner's dilemma game.

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Question 24

What is a Nash equilibrium?

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Question 25

What is the difference between a dominant strategy and a mixed strategy? Give an example of each type of strategy.

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Question 26

What is meant by a "payoff matrix"? What are the three things that are shown in the payoff matrix?

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Question 27
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