When a game player faces the same strategic interaction with the same rivals and the same payoffs in successive periods, then the game is called a _____ game.
A)repeated
B)single-shot
C)succession
D)finite-shot

Question

Quizplus · Accepted Answer

A repeated game involves a strategic interaction that occurs repeatedly over time with the same set of rivals and payoffs. This allows for players to learn from previous interactions and develop strategies that may improve their outcomes in future rounds. A single-shot game, on the other hand, only occurs once without the opportunity for players to revise their strategies based on past experiences. Succession and finite-shot are not terms commonly used in game theory.

When a Game Player Faces the Same Strategic Interaction with the Same