A decision maker who uses the maximax criterion when solving a problem under conditions of uncertainty is:
A) an optimist.
B) a pessimist.
C) an economist.
D) an optometrist.
E) making a serious mistake; maximax is not appropriate for conditions of uncertainty.

Question

Quizplus · Accepted Answer

A decision maker who uses the maximax criterion assumes that the best possible outcome will occur and makes decisions based on this optimistic viewpoint. This criterion is appropriate in situations where there are no risks or uncertainties involved.

A Decision Maker Who Uses the Maximax Criterion When Solving