The _____________ criterion finds the best possible payoff for each alternative and then chooses the alternative that yields the maximum payoff.
A)Maximin
B)Certainty
C)Maximax
D)Decision

Question

Quizplus · Accepted Answer

The maximax criterion focuses on maximizing the maximum payoff, which is the best possible outcome for each alternative. It is the most optimistic criterion and is suitable when the decision-maker wants to achieve the best possible outcome regardless of the risk associated with it. Thus, the best choice would be the alternative that yields the highest possible payoff, as per this criterion.

The _____________ Criterion Finds the Best Possible Payoff for Each