  We study the set of (stationary) feasible payoffs of OLG repeated games that
can be achieved by action sequences in which every generation of players plays
the same sequence of action profiles. Our first main result completely
characterizes the set of feasible payoffs given any fixed discount factor of
players and the length of interaction. We can use this result to obtain the
feasible payoff set in closed form. Second, we provide novel comparative
statics of the feasible payoff set with respect to the discount factor and the
length of interaction. Perhaps interestingly, the feasible payoff set becomes
smaller as players' discount factor becomes larger. In addition, we identify a
necessary and sufficient condition for this monotonicity to be strict.
