CONTINUOUS-TIME REPEATED GAMES

In this paper we develop a model of strategic behaviour in continuous time games of complete information, which includes conventional repeated games in discrete time as a special case. The model developed here admits a very large class of strategies, that allows one to extend the repeated game model to continuous time. The set of equilibria in this game may be large-in many cases equal to the feasible individually rational set of payoffs. We also study the restriction of renegotiation proofness in this framework, and apply these results to a Cournot duopoly example.