单词 | repeated game |
释义 | repeated game A game where participants expect that there will be future games of the same type. Participants in repeated games have an incentive to choose their strategy taking into account how their actions in this game will affect their reputation, that is, how other participants will expect them to behave in future games. It may thus pay in a repeated game to adopt strategies which would not be chosen in a one-off game, where reputation does not matter. |
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