A maximin decision rule selects:
A) The best of two weakly dominant strategies.
B) The strategy that results in the best of the worst possible payoffs.
C) A secure strategy.
D) Both b and c are correct.
E) None of the above are correct.

Question

Quizplus · Accepted Answer

The maximin decision rule involves choosing the option that has the best worst-case scenario. This means selecting the strategy that ensures the most favorable outcome among the least favorable outcomes, which is a secure strategy. Therefore, both B and C accurately describe aspects of the maximin decision rule.

A Maximin Decision Rule Selects