A continuation probability is introduced to develop a theory of indefinitely repeated games where the extreme cases of finitely and infinitely repeated games are specific cases. The set of publicly correlated strategies (vectors) that satisfy a matrix inequality equilvalent to the...

It is known that the only subgame perfect equilibrium for finitely repeated Prisoner's Dilemna games consists of "defecting" in every round. Finitely repeated games are only representative of a class of indefinitely repeated games where the sole subgame perfect equilibrium is noncooperative....