Patience Pays Off: Any Desired Outcome Achievable in Repeated Games
The article introduces repeated games, where players make decisions over multiple rounds. It discusses different types of repeated games, such as finitely repeated games and discounted games. The Folk theorem states that in a uniform game, players can achieve any reasonable payoff if they are patient enough. Similar theorems exist for discounted games and finitely repeated games. The article also explores extensions of the model, including repeated games with imperfect information and stochastic games. Overall, the research shows that with the right strategies and patience, players can reach desired outcomes in repeated games.