If the effective cosmological constant is non-zero, our observable universe may enter a stage of exponential expansion. In such case, regions of it may tunnel back to the false vacuum of an inflaton scalar field, and inflation with a high expansion rate may resume in those regions. An ``ideal'' eternal observer would then witness an infinite succession of cycles from false vacuum to true, and back. Within each cycle, the entire history of a hot universe would be replayed. If there were several minima of the inflaton potential, our ideal observer would visit each one of these minima with a frequency which depends on the shape of the potential. We generalize the formalism of stochastic inflation to analyze the global structure of the universe when this `recycling' process is taken into account.

43 pages, 10 figures