A person is trying to decide if they should buy a lottery ticket. The ticket costs $2.00. If the ticket is a winner, the prize would be $1,000. Knowing that winning $1,000 is not a certain outcome (state of nature) , the person finds that the probability of winning is 0.001. Based on this information, the following payoff table can be constructed: 
What is the decision using a maximax or optimistic approach?
Definitions:
Profit-Maximizing
A strategy adopted by businesses aiming to achieve the highest possible profit given the constraints they face.
Quantities
Numerical amounts or counts of items, goods, or materials.
Third-Degree Price Discrimination
A pricing strategy where different prices are charged to different customer groups based on their elasticity of demand.
First-Degree Price Discrimination
A pricing strategy where a seller charges the maximum price that each consumer is willing to pay, capturing the entire consumer surplus.
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