this is an example of a continuous strategy situation. As a
result the analytical approach is somewhat different, as will be seen in the
subsection on oligopoly.
g. ‘One-off’ and repetitive games
The distinction between these two types of situation has already been illustrated
by the two different versions of the PD in Tables 9.1 and 9.2. Most shortrun
decision scenarios in business, such as pricing and advertising, are of the
repetitive type, in that there is a continuous interaction between competitors,
who can change their decision variables at regular intervals. Some of these
games may involve a finite number of plays, where an end of the game can be
Game theory 337