Ünite Sınavı Soruları

Not knowing the exact quality of a product we are going to buy as well as the seller implies that…

I. Adverse selection arises when an informed individual’s decisions in the market affect adversely
uninformed market participation.

II.  Asymmetric information causes the adverse selection problem, a phenomenon in which there is a hidden characteristic problem.

III. Insurance companies offer the same premiums for their customers for insurance so adverse selection does not arise in the insurance markets.

What can be said to be true about adverse selection?

What is a set of strategies in which each player does the best they can, given their opponent’s strategies?

Choose the option that completes the following sentence correctly.

"A person with convex utility function is called a ..........."

What is a static games of complete information?

Who developed the expected utility theory?

What will be the shape of the risk averter person’s expected utility function?

Which of following is not a one of the characteristics of a fair game

Which of the following is a set of strategies in which each player does the best he can, given his opponent’s strategies?

Which of the following is a formal description of a strategic situation?

Which of the following best describes the utility function of risk neutral?

I. Risk-seeking or Risk-taker, preferences described by a utility function with increasing marginal
utility of wealth.

II. Risk averse is a person who only agrees to a gamble when the expected value is zero, therefore agrees to fair gambles.

III. Risk Neutral, preferences are described by a utility function with the constant marginal utility of wealth.

Which of the given statement about attitudes towards risk can be said to be true?

Which of the following is the sum of all possible outcomes weighted, where each possible value is weighted by its respective probability?

Which of the following generally best describes economic decisions under uncertainty

In a gamble using a head-tail coin, if the coin comes up heads, you will win 300₺; if tails come you will lose 60₺. What is the expected value?

What is the sum of all possible outcomes weighted, where each possible value is weighted by its respective probability?

I. Game theory is a branch of applied mathematics that models situations where payoffs arise from players’ strategic interactions with each other.

II.  In each game, players have certain gains and losses that they get as a result of each decision they make, which we call expected values.

III. In the game theory models, decision-makers are called players. In a game in strategic form, every one of the given possible actions of a player is called a strategy.

What can be said to be true about game theory?

Which of the following shows the players’ winnings and losses for each possible strategy?

Choose the option that completes the following sentence correctly.

"If a person is .........., then that means she is indifferent between refusing or accepting the fair gamble and her utility function will have constant slope."

What is a "Game"?