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In this episode we focus on the concept of discount factor and provide an alternative interpretation. We do this by re-writing repeated game payoff as a net present value of a sequence of payoffs through time.
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.