45 3 points Game theory The following table shows the NPVs for 3 projects for 3 different states of an uncertain environment (I, II, and III]. State I represents the best environment and State III represents the worst environment. Pay off matrix Project Red Blue Green I 5,270 3,950 3,800 II 2,600 4,100 2,420 III 1,360 2,460 2,200 II TIT Regret matrix Project ii Red Blue Green Vi V vili vii ix Which project would be chosen using the minimax regret decision rule? Hint: it will be useful to write out the regret matrix in full in your working papers. type your answer... Previous Next