The Minimax Criterion Is to

question 25

Multiple Choice

The minimax criterion is to

• A)minimize one's maximum losses.
• B)maximize one's maximum losses.
• C)maximize one's maximum gains.
• D)minimize one's minimum gains.

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Definitions:

Rawls

A philosopher known for his theory of justice as fairness, emphasizing the principles that society should be structured under.

Veil of Ignorance

Concept from Rawls’ "A Theory of Justice" suggesting decision-makers should make societal rules as if they were ignorant of their own status in society to ensure fairness.

Principles of Justice

Fundamental norms or rules that guide the distribution of burdens and benefits in a society fairly and equitably.

Advantage

A condition or circumstance that puts one in a favorable or superior position relative to others.