If the effective cosmological constant is nonzero, our observable univ
erse may enter a stage of exponential expansion. In such a case, regio
ns of it may tunnel back to the false vacuum of an inflaton scalar fie
ld, and inflation with a high expansion rate may resume in those regio
ns. An ''ideal'' eternal observer would then witness an infinite succe
ssion of cycles from false vacuum to true, and back. Within each cycle
, the entire history of a hot universe would be replayed. If there wer
e several minima of the inflaton potential, our ideal observer would v
isit each one of these minima with a frequency which depends on the sh
ape of the potential. We generalize the formalism of stochastic inflat
ion to analyze the global structure of the universe when this ''recycl
ing'' process is taken into account. [S0556-2821(98)02904-X].