or $δ in current day dollars worth--from rejecting your offer.

或者通过拒绝参与人1得到今天的δ美元
Since they can get at least $δ current day offers

由于他们可以在当下就得到δ美元
from rejecting your offer,

只要拒绝你的条件
the lowest offer you can make to them

那么你给出的最低条件
is an offer that gives them at least $δ.

条件至少是δ美元
So the offer you're going to make is this offer:

所以你要给出的条件就是
this is the two stage offer.

在两期博弈中
It happens in the first stage.

在第一阶段时
Player 1 makes an offer that gives Player 2

参与人1向参与人2给出的条件
what Player 2 could get in the second round,

就是参与人2在第二轮能得到的数额
so gives Player 2 $δ and keeps $[1 - δ] for herself.

所以是给参与人2δ美元而自己得到1- δ美元
Everyone understand the picture?

每个人都看懂图了吗