The ____________________ criterion for choosing among alternative actions assumes that the state of nature with the best payoff will be experienced.
A)Maximin
B)Certainty
C)Maximax
D)Decision

Question

Quizplus · Accepted Answer

The maximax criterion assumes that the state of nature with the highest possible payoff will be experienced. This criterion is appropriate when the decision-maker is optimistic and seeks to maximize their potential gains without considering potential losses.

The ____________________ Criterion for Choosing Among Alternative Actions Assumes That