Repeated Games is a kind of *game does one firm move first and commit to a specific strategy and then the rival responds
Repeated games enable the investigation of the relationship between short-term rewards and long-term motivations. A game that is repeatedly played over a finite number of discrete time intervals, or rounds, is referred to as a finitely repeated game. The index for each time period is 0 t 0 T, where T is the total number of times. The total of a player's round-by-round payouts makes up their overall payout. If the stage game has a distinct Nash equilibrium, then the repeated game has a distinct subgame perfect Nash equilibrium strategy profile of playing the stage game equilibrium in each round for those repeated games with a fixed and known number of time periods. Backward induction can be used to determine this.
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