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The strategies do change when repeated games are on, and the main strategy that is in use would be the mixed strategy. There would be cooperation in the prisoner’s dilemma, and that means there would be a mutual confession. There would be non-cooperation in the form of defection, and this leads to mixed strategy.
The bargain would depend on the power of cooperation or the threat of non-cooperation. All the previous moves till that moment are taken into place, and this is a difference with a regular strategy game. There would be a payoff at each stage of the game, and this needs a better explanation that would be done in repeated games homework help by myhomeworkhelp.com. Repeated games are infinite and finite games based on situations. Other names for repeated games are super games. If the game is played only once there is no scope for repeat games.
Trigger reaction
Trigger reaction is known as Tit for Tat reaction. Assume in a market there are only two competitors and they both have a strategy to ensure that third party does not come into play. Based on that the first company hiked the price of product and expected the second part to raise the price to an equal level, and that is the same strategy. This did not happen, and when company second hiked the price at a later stage, a company first reduced the price and made it a trigger reaction.
There are two Senate members D and F.D support the bill moved by F and expects F to support the bill moved by D. But F did not support the bill moved by D. Then D would wait and would not support future bill moved by F.
More examples of trigger reaction would be had in repeated games assignment help.
Grim trigger reaction
This is like trigger reaction except in the ending. In trigger reaction when defection takes place, there is tit for tat reaction, and the chances of cooperation are there with negotiation.
In grim trigger reaction chances of cooperation are bleak in future, and when defection takes place, the chances of cooperation also ends there. The next thing would be to counterattack opposition strategy always.
Grim trigger reaction can also be termed as cheap talking when the party that threatens of dire consequences is merely using lip service. When in reality they have no plans for grim trigger reaction. Detailed analysis of grim trigger reaction is explained in repeated games homework help.
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