Under Maximin Rule a Decision Maker Hedges Against the Worst

question 38

True/False

Under maximin rule a decision maker hedges against the worst possible outcome of a decision.

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Definitions:

Liable

Being legally responsible for something, typically involving financial compensation or obligations.

Discrimination

Unjust or prejudicial treatment of different categories of people or things, especially on the grounds of race, age, sex, or disability.

Sexual Orientation

An individual's pattern of emotional, romantic, or sexual attraction to others, based on the gender(s) to which one is attracted.

Business Partner

An individual or organization that collaborates with another to run a business or project, sharing in the risks and rewards.