The __________________ criterion is preferred by pessimistic decision makers.
A)Maximax
B)Maximin
C)Utility theory
D)Risk theory

Question

Quizplus · Accepted Answer

Pessimistic decision makers prefer the maximin criterion, which focuses on choosing the option with the highest minimum payoff or the lowest possible loss. This approach is suitable for decision makers who are risk-averse and want to ensure that they minimize their potential losses.

The __________________ Criterion Is Preferred by Pessimistic Decision Makers