Maximin vs Maximax - What's the difference?

maximin | maximax | see also |

Maximin is a see also of maximax.


As nouns the difference between maximin and maximax

is that maximin is in decision theory and game theory etc, a rule to identify the worst outcome of each possible option to find one's best (maximum payoff) play while maximax is (economics|computer science|decision theory) a strategy or algorithm that seeks to maximize the maximum possible result (that is, that prefers the alternative with the chance of the best possible outcome, even if its expected outcome and its worst possible outcome are worse than other alternatives);.

As a verb maximin

is to employ a maximin algorithm.

maximin

English

Noun

(en noun)
  • In decision theory and game theory etc, a rule to identify the worst outcome of each possible option to find one's best (maximum payoff) play.
  • See also

    * minimax

    Verb

  • To employ a maximin algorithm.
  • Anagrams

    * English oxymorons

    maximax

    English

    Noun

    (-)
  • (economics, computer science, decision theory) A strategy or algorithm that seeks to maximize the maximum possible result (that is, that prefers the alternative with the chance of the best possible outcome, even if its expected outcome and its worst possible outcome are worse than other alternatives);
  • * 2009 , Harold Kerzner, Project Management: A Systems Approach to Planning, Scheduling, and Controlling , Tenth Edition, John Wiley and Sons, ISBN 978-0-470-27870-3, page 749:
  • The first criterion is the criterion, often referred to the maximax criterion. the decision-maker is always optimistic and attempts to maximize profits by a go-for-broke strategy.

    See also

    * (strategy that maximizes the maximum) maximin, minimax, minimin