Repeated Games

Repeated games are situations where players engage in the same game multiple times, allowing them to learn from previous outcomes and alter their strategies. Unlike one-time games, where decisions are isolated, repeated games enable players to build trust, establish cooperation, or retaliate against opponents' betrayal over time. This can lead to more complex behavior and strategies, as players consider future interactions when making decisions today. Examples can be found in economics, politics, and social situations, where relationships and history influence current choices.