The minimax regret approach is neither aggressive nor conservative.

Name: The minimax regret approach is neither aggressive nor conservative.
Brand: Quizplus
Rating: 4.7 (44 reviews)

Question

Quizplus · Accepted Answer

The minimax regret approach aims to minimize the maximum regret that one could have given any possible outcome. It is neither aggressive nor conservative in the sense that it does not prioritize either risk-taking or risk-aversion. Instead, it aims to balance both factors by identifying the option that minimizes the maximum potential regret.

The Minimax Regret Approach Is Neither Aggressive nor Conservative