Econometrica Vol. 53 No. 4 1985
Finitely Repeated Games
Abstract
We study subgame perfect equilibria of finitely repeated games. We prove a limit "folk theorem" for these games. Under weak conditions, any feasible and individually rational payoff vector of the one-shot game can be approximated by the average payoff in a perfect equilibrium of a repeated game with a sufficiently long horizon.
- DOI
- 10.2307/1912660
- Volume
- 53
- Issue
- 4
- Pages
- 905
- Sources
- bibtex:phds-export.bib crossref openalex