Terms vs Maximax - What's the difference?
terms | maximax |
(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,
As nouns the difference between terms and maximax
is that terms is 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);.maximax
English
Noun
(-)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.