Determining the Worst Payoff for Each Alternative and Choosing the Alternative

question 71

Multiple Choice

Determining the worst payoff for each alternative and choosing the alternative with the "best worst" is the approach called:

• A)minimin.
• B)maximin.
• C)maximax.
• D)minimax regret.
• E)Laplace.

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Definitions:

Negative Emotion

Emotional states considered to be unpleasant or harmful, such as sadness, anger, fear, and jealousy.

Discrimination

Unjust or prejudicial treatment of different categories of people, especially based on race, age, or sex.

Group Polarization

The phenomenon where the attitude of a group towards a particular issue becomes more extreme than the initial inclination of its members following group discussions.

Deindividuation

A concept in social psychology that describes the loss of self-awareness in groups, which can lead to disinhibited and impulsive behavior.