Game theory 101
game theory made easy
Bargaining and More
Expected Utility Theory
Repeated Prisoner's Dilemma
This lecture looks at the possibility of cooperation in a prisoner's dilemma repreated a finite number of times.
Players can only make promises (commitments) that they have incentive to follow through on when it comes time to make good on those promises.
If players know when their prisoner's dilemma interactions will end, then no promise of cooperation is credible, and the players defect every period.