Cooperation in a modified version of the finitely repeated prisoners' dilemma game
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In this paper we consider a series of finitely repeated prisoners' dilemma games in which the payoff the players receive in a period depends on how they have played the game in the past. We show that this modification of the finitely repeated prisoners' dilemma game makes cooperation a feasible equilibrium configuration in the beginning of play.
- future pay-offs
- period t
- period pay-offs