In decision-making under uncertainty, a pessimistic approach is the __________.
A)maximin criterion
B)maximax criterion
C)Hurwicz criterion
D)minimax regret strategy
E)maximin regret strategy

Question

Quizplus · Accepted Answer

The maximin criterion is considered a pessimistic approach because it focuses on maximizing the minimum payoff, assuming the worst-case scenario will occur.

In Decision-Making Under Uncertainty, a Pessimistic Approach Is the __________