Consider the stage game shown in table below. Suppose this game is played twice. Also, assume that players do not discount future payoffs. That is, 8₁ = ₂ = 1. How many SPNEs does the repeated game (where the shown stage game is played twice) have? Player 2 L M R U 9,9 6, 11 1, 12 Player 1 C 11, 6 5,5 1, 1 D 12, 1 1, 1 2, 2
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![Consider the stage game shown in table below. Suppose this game is played twice. Also, assume that players do not discount
future payoffs. That is, 6₁ = 6₂ = 1.
How many SPNEs does the repeated game (where the shown stage game is played twice) have?
Player 2
L
M
R
U
9,9
6, 11
1, 12
Player 1
C
11, 6
5,5
1, 1
D
12, 1
1, 1
2, 2
9
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