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In this episode we continue our discussion on infinitely repeated games that we started in episode 4. We provide an intuition behind a very important theorem, known as Folk Theorem. It states that all individually rational and feasible stage game payoffs can be approximated as an SPNE outcome.
It's crucial to watch lecture videos in the proper order to ensure effective learning. This is because the concepts in each video build upon those introduced in previous videos. To help you with this, I recommend visiting my website, www.selcukozyurt.com, for a recommended course outline.