Continuous Time Repeated Games

In this paper, the authors develop a model of strategic behavior in continuous time games of complete information, which includes conventional repeated games in discrete time as a special case. The model developed here admits a very large class of strategies that allows one to extend the repeated game model to continuous time. The set of equilibria in this game may be large--in many cases equal to the feasible individually rational set of payoff s. The authors also study the restriction of renegotiation proofness in this framework and apply these results to a Cournot duopoly example.