Computer simulations have shown that mutation-selection processes freq
uently lead to the establishment of cooperation in the repeated prison
er's dilemma. To simplify the mathematical analysis, it has usually be
en assumed that the interaction is repeated infinitely often. Here, we
consider the finitely repeated case. Using renewal equations, we deri
ve analytic results on the adaptive dynamics of monomorphic population
s evolving in trait-space, describe the cooperation-rewarding zone and
specify when unconditional defectors can invade. Tit for tat plays an
essential, but transient, role in the evolution of cooperation. A lar
ge part of the paper considers the case when players make their moves
not simultaneously, but alternatingly. (C) 1995 Academic Press, Inc.