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Define incest. Describe the causes and effects of incest?
Minimin Strategy
A decision rule used in scenarios involving uncertainty, where the decision maker aims to minimize the potential for the worst-case scenario.
Maximum Payoff
The highest possible return that can be achieved from an investment or decision scenario.
Minimum Payoff
The least amount of return or profit one can expect from an investment or decision.
Payoff Rate
The rate of return or profit that is expected or realized from an investment, operation, or decision.
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