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HI, i would like to ask what kind of decision making if we use minimax regret rule ?
if i’m not mistaken it should be sore loser, but there’s one question state that it was risk averse.
I think risk averse is for maximin decision rule right?Correct me if I’m wrong 🙂
Both maximin and minimax regret approaches are risk averse. I do explain this in my free lectures on decision making under uncertainty.
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