The decision criterion that would be used by an optimistic decision maker solving a problem under conditions of uncertainty would be the
A) expected monetary value criterion
B) equally likely criterion
C) maximax criterion
D) maximin criterion
E) minimin criterion

Question

Quizplus · Accepted Answer

The maximax criterion is used by an optimistic decision maker as it selects the decision alternative that results in the maximum possible payoff. This criterion assumes that the best possible outcome will occur and ignores the probabilities of the various outcomes, which aligns with an optimistic decision maker's approach.

The Decision Criterion That Would Be Used by an Optimistic