12  Suppose we'll play agency game 60 times  $50 x 60 = $3,000 > $200, so cooperation seems like no problem  But…  In game #60, reputation has no value to me  Last time we're going to interact  So I have no reason not to keep all the money  So you have no reason to trust me  But if we weren't going to cooperate in game #60, then in game #59… Repeated games and the endgame problem
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