In the Hurwicz Equation,Hᵢ = α X (Maximum Payoff)+ (1-α)X

question 21

Multiple Choice

In the Hurwicz equation,Hᵢ = α x (maximum payoff) + (1-α) x (minimum payoff) ; if we set α = 1,then the equation reduces to ______.

• A)maximin criterion
• B)maximax criterion
• C)Laplace criterion
• D)minimax regret criterion

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