Front: What is a Nash Equilibrium in game theory? Back: A Nash Equilibrium is a situation where no player can gain an advantage by changing their strategy unilaterally, given the strategies of other players remain unchanged.

Front: What is a Dominant Strategy in game theory? Back: A Dominant Strategy is a strategy that provides the best outcome for a player regardless of what strategies other players choose.

Front: Describe the Prisoner's Dilemma and its significance in game theory. Back: The Prisoner's Dilemma is a scenario where two individuals acting in their own self-interest do not produce the optimal outcome. It demonstrates why two completely rational individuals might not cooperate, even if it appears that it is in their best interests to do so.

Front: What is a Zero-sum Game? Back: A Zero-sum Game is a situation in game theory where one participant's gain is equivalent to another's loss, so the net change in wealth or benefit is zero.

Front: Define Pareto Efficiency in the context of game theory. Back: Pareto Efficiency is a state of allocation of resources from which it is impossible to reallocate so as to make any one individual or preference criterion better off without making at least one individual or preference criterion worse off.

Front: What is the Minimax Strategy in game theory? Back: The Minimax Strategy is a decision rule used in artificial intelligence, decision theory, game theory, and statistics. It minimizes the possible loss for a worst case (maximum loss) scenario.

Front: Explain the Tit for Tat strategy in game theory. Back: Tit for Tat is a strategy in game theory where a player first cooperates, then subsequently replicates an opponent's previous action. It's based on reciprocity and has been shown to be effective in various repeated game scenarios.

Front: What is the Shapley Value in cooperative game theory? Back: The Shapley Value is a solution concept that provides a unique distribution of a total surplus generated by the coalition of all players in a cooperative game. It represents a fair allocation of gains among players according to their contributions.

Front: What is Evolutionary Game Theory? Back: Evolutionary Game Theory is the application of game theory to evolving populations in biology. It differs from classical game theory by focusing on the dynamics of strategy change more than the properties of strategy equilibria.

Front: What is a Bayesian Game in game theory? Back: A Bayesian Game is a game in which players have incomplete information about the other players' characteristics or types. Players use Bayesian analysis to make decisions, updating their beliefs about other players based on available information.