Players no longer need commitment strategies to reach a mutually-beneficial cooperative equilibrium when games are repeated.
This is an exercise related to Game Theory.
The extended form is typically used to depict repeated games, commonly referred to as supergames, in game theory since they occur repeatedly across time.
The potential of collaborating means that we may choose to compromise in order to continue earning a payout over time, knowing that if we do not fulfill our part of the bargain, our adversary may decide not to either.
As contrast to one-shot games, recurring games provide a new set of incentives.
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