Journal Of The Econometric Society

An International Society for the Advancement of Economic
Theory in its Relation to Statistics and Mathematics

Edited by: Guido W. Imbens • Print ISSN: 0012-9682 • Online ISSN: 1468-0262

Econometrica: Jul, 1985, Volume 53, Issue 4

Finitely Repeated Games<905:FRG>2.0.CO;2-2
p. 905-922

Jean-Pierre Benoit, Vijay Krishna

We study subgame perfect equilibria of finitely repeated games. We prove a limit "folk theorem" for these games. Under weak conditions, any feasible and individually rational payoff vector of the one-shot game can be approximated by the average payoff in a perfect equilibrium of a repeated game with a sufficiently long horizon.

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