Infinitely Repeated Games Flashcards
1
Q
What is an infinitely repeated game?
A
An infinite sequence of repeated, well-defined games of complete information with simultaneous moves. Players don’t know when the game will end.
2
Q
What can delta be interpreted as?
A
The probability the game is repeated tomorrow
3
Q
What is a behavioural strategy?
A
A mapping from the set of historical results into the stochastic choices for the stage-games
4
Q
What is a Grim-trigger strategy?
A
If the outcome of stage 1 unwanted, ‘punish’ opponent forever
5
Q
What is a SPE in infinitely repeated games?
A
A strategy profile where the player at no single history would gain from deviating from the strategy.
