Another criterion for selecting a decision is the maximax criterion, sometimes known as the criterion of optimism.
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Another criterion for selecting a decision is the maximax criterion, sometimes known as the criterion of optimism. This criterion chooses the action with the largest possible payoff.
(a) What action would be chosen by the candy bar manufacturer, with the payoffs of Table 19.1, according to this criterion?
(b) What action would be chosen by the investor of Example 19.1 according to this criterion?
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