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Virtual world games,like Second Life,are sometimes used by interviewers so that they can assess _____.
Maximin Criterion
A decision rule used in statistics, economics, and game theory that selects the action maximizing the minimum payoff possible from available choices.
Maximax Criterion
A decision rule used in scenarios of uncertainty to select the option with the maximum possible payoff, focusing on the most optimistic outcome.
Perfect Market Research
An ideal, comprehensive analysis of market conditions, consumer behaviors, and competitive landscapes to inform business decisions.
Perfect Information
Perfect Information is a situation in decision-making where all participants have access to all relevant facts and data, eliminating uncertainty.
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