“In many real-world situations, cooperation may be easier to sustain in a long-term relationship than in a single encounter. Analyses of short-run games are, thus, often too restrictive. Robert Aumann was the first to conduct a full-fledged formal analysis of so-called infinitely repeated games. His research identified exactly what outcomes can be upheld over time in long-run relations.”

— Robert Aumann

" Nobel Prize 2005 Press Release http://www.nobelprize.org/nobel_prizes/economics/laureates/2005/press.html" 10 October 2005

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Robert Aumann 16

Israeli-American mathematician 1930

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“Following von Neumann and Morgenstern [7, p. 30], we distinguish between games with complete information, to be sometimes briefly called C-games in this paper, and games with incomplete information, to be called I-games. The latter differ from the former in the fact that some or all of the players lack full information about the "rules" of the game, or equivalently about its normal form (or about its extensive form). For example, they may lack full information about other players' or even their own payoff functions, about the physical facilities and strategies available to other players or even to themselves, about the amount of information the other players have about various aspects of the game situation, etc.
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