Finitely repeated games with social preferences
研究了当参与者具有社会偏好（如不平等厌恶）时，有限重复博弈中唯一阶段博弈均衡不再必然构成子博弈完美均衡，这对重复互动实验的设计有重要启示。
Abstract A well-known result from the theory of finitely repeated games states that if the stage game has a unique equilibrium, then there is a unique subgame perfect equilibrium in the finitely repeated game in which the equilibrium of the stage game is being played in every period. Here I show that this result does in general not hold anymore if players have social preferences of the form frequently assumed in the recent literature, for example in the inequity aversion models of Fehr and Schmidt (Quartely Journal of Economics 114:817–868, 1999) or Bolton and Ockenfels (American Economic Review 100:166–193, 2000). In fact, repeating the unique stage game equilibrium may not be a subgame perfect equilibrium at all. This finding should have relevance for all experiments with repeated interaction, whether with fixed, random or perfect stranger matching.