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Maximin

Forums › Ask CIMA Tutor Forums › Ask CIMA P2 Tutor Forums › Maximin

  • This topic has 5 replies, 2 voices, and was last updated 3 years ago by Cath.
Viewing 6 posts - 1 through 6 (of 6 total)
  • Author
    Posts
  • October 14, 2019 at 11:17 pm #549556
    halogirl
    Member
    • Topics: 1
    • Replies: 3
    • ☆

    Hi

    I understand that the Maximin approach is risk averse and you seek alternatives. For demand questions, it is easy to calculate. My difficulty is when I am faced with a non demand question. Do you look at the alternatives vertically or horizontally?

    Hope this makes sense and thank you.

    October 24, 2019 at 11:11 pm #550726
    Cath
    Member
    • Topics: 0
    • Replies: 423
    • ☆☆☆

    Hi – there is no set rule for this – but conventionally CIMA questions have shown the decisions in the columns along the top … and the outcomes which are not controllable along the rows at the side.

    The context of the question should make it clear which aspect is controllable and which is not – so always read the question to ensure correct interpretation of the payoff table given.

    Hope this helps
    Many Thanks

    November 2, 2019 at 5:48 pm #551449
    halogirl
    Member
    • Topics: 1
    • Replies: 3
    • ☆

    Hi Cath – thank you so much for this. I passed my P2. Really appreciate you taking the time to reply my question.

    November 3, 2019 at 11:35 pm #551515
    Cath
    Member
    • Topics: 0
    • Replies: 423
    • ☆☆☆

    Thats great news – thanks for letting me know!!
    Kind Regards
    Cath

    November 5, 2019 at 10:12 pm #551639
    halogirl
    Member
    • Topics: 1
    • Replies: 3
    • ☆

    Thank you – really appreciate the resources on this site.

    November 30, 2019 at 5:42 pm #554269
    Cath
    Member
    • Topics: 0
    • Replies: 423
    • ☆☆☆

    No problem – glad we can help
    Thanks

  • Author
    Posts
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