A decision maker who uses the maximin 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;maximin is not appropriate for conditions of uncertainty.

Question

Quizplus · Accepted Answer

A decision maker who uses the maximin criterion is adopting a "worst-case scenario" approach, assuming that the outcome with the lowest payoff is the most likely to occur. This approach is typically associated with pessimism rather than optimism.

A Decision Maker Who Uses the Maximin Criterion When Solving