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Consider now the following prisoner's dilemma game: L R U 3,3 0,4 D 4,0 1, 1 The above game is repeated a random number of

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Consider now the following prisoner's dilemma game: L R U 3,3 0,4 D 4,0 1, 1 The above game is repeated a random number of times. After each stage is played, the game ends with probability p. Players discount future payoffs at a rate r > 0.e} Compute the threshold of 1} below which (ILL) is a SPNE of the repeated game that ends after a random number of repetitions. Comment. :1) In repeated games, which of the following is more important in order to achieve cooperation: a reputation, a long history together, or a long horizon ahead? Explain

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