I want to know the advanatges and disadvantages of :

1. Maximax criterion

2.Minimin criterion

3. Minimax regret criterion

4. maximum likelihood

5. bayes' decision rule

6. decision tree analysis

Which is the best option for analysis?

Scenario for analysis: To choose between 2 bank loans, 1 loan with fixed interest rates no matter the state of the economy, and the other with varying interest rates depending on the economic outlook.