An aggressive decision maker would prefer the minimax regret criterion over the maximin criterion.
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Q8: EVPI is the smallest expected regret of
Q9: The expected regret criterion will always yield
Q10: The "principle of insufficient reason" indicates the
Q11: "Uncertainty" implies probabilities; "risk" implies ignorance.
Q12: The difference between "risk" and "uncertainty" in
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Q15: The optimal decision can change merely by
Q16: The objective function in game theory is
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