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Maximax,minimax, maximin regret rule

This topic has 1 reply, 2 voices, and was last updated 6 years ago by John Moffat.

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April 26, 2018 at 11:40 am #448938
arslan10
Member
- Topics: 18
- Replies: 9
Based on the question of BPP kit- BDU co i need clarification and answers regarding below points
1) risk seeker choose maximax approach?
2) Risk averse choose maximin approach?
3) what approach does risk neutral person choose?
April 26, 2018 at 5:49 pm #448998
John Moffat
Keymaster
- Topics: 57
- Replies: 54482
I explain all this in detail in my free lectures on decision making under uncertainty.
Please do not expect me to type out all of my lectures here 🙂
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