Folk theorems in repeated games with switching costs
研究了转换成本如何影响重复博弈的子博弈完美均衡，发现当玩家足够耐心时民间定理成立，且转换成本在无限无贴现博弈中不利，但在有限或贴现博弈中可能有利。
We study how switching costs affect the sub-game perfect equilibria in repeated games. We show that (i) the Folk Theorem holds whenever the players are patient enough; (ii) the set of equilibrium payoffs is obtained by considering the payoffs of a simple one-shot auxiliary game; and (iii) the switching costs have a negative impact on a player in the infinitely undiscounted repeated game but can be beneficial for him in a finitely repeated game or in a discounted game.