In using the maximax criteria one chooses the highest of the possible payoffs while in using the maximin criteria one chooses the highest of the minimum possible payoffs from the payoff table.

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The maximax criterion is a strategy of optimism where one selects the alternative with the highest possible payoff, while the maximin criterion is a strategy of pessimism where one selects the alternative with the highest of the minimum payoffs, aiming to ensure the best of the worst-case scenarios.

In Using the Maximax Criteria One Chooses the Highest of the Possible