Game Played Once or Repeatedly:

A  game  played just once is simpler  in  some respects  than the  games with longer  interactions. We  can think  of  games which is just one  shot  and  the players do not worry  about  the repercussions on  the other games they might be  playing in  future against the same person or against others who might hear of  their actions in  this game. Therefore, strategies chosen by a player in a one shot game might be harsh or ruthless. For example, in a typical Indian railway station, a tea vender charges higher prices per cup of tea to the passenger than the railway employees who are regular customer of him. This  is because he plays a one shot game with the passengers and is not worried about passengers' reactions to this high price see that the passengers' retaliation hardly affects him or to be precise his payoff. Again if he charges higher price to the railway employees, then either they will  shift to another tea vender or make him evacuate the place. 'Therefore,  there is no incentive for the vender to charge the same price to railway employees or regular customers and the flying passengers.  

In  one stage or  one-shot games each player  does not know much  about the others. For example, what their capabilities and priorities are, whether they are good at calculating their response or have any weakness that one can exploit and  so on. Therefore, in  one shot games, secrecy or surprise are  likely to be important components of a good strategy. 

Games, which are played more than once, involve opposite considerations. In that case,  the players have the opportunity to build a reputation (for  honesty, fairness, toughness, reliability and so on depending on the circumstances)  and to find out more about their opponents. We will discuss these games in  detail in  the unit on repeated games.  

More generally, a game may  be  zero-sum in the short run but have scope for mutual benefit  in  the  long run.  For  example each football  team  likes to win but  they all recognise that close competition generates  more  spectators' interest, which benefit all the teams in  the long run. That is why they agree to a drafting scheme where teams get to pick players  in  reverse of their current standing, thereby reducing the inequality of  talent.