A player who adopts a minimax regret strategy:
A) Is trying to get out from under a bad situation.
B) Is trying to minimize any possible feelings of regret from making an incorrect decision.
C) Is extremely risk averse, even when rational behavior suggests that he or she should adopt a strictly dominant strategy.
D) Will only do so when the sum of the payoffs for both players in a two-person game is exactly equal to zero.
E) Is usually afraid of his or her own shadow.

Question

Quizplus · Accepted Answer

Minimax regret strategy involves making decisions in a way that minimizes the maximum regret one might feel from making an incorrect choice. This approach does not necessarily imply being in a bad situation, being extremely risk-averse, or the conditions of the payoffs in a two-person game. It's about reducing potential regret.

A Player Who Adopts a Minimax Regret Strategy