maximax criterion
Definition
In decision theory, the optimistic (aggressive) decision making rule under conditions of uncertainty. It states that the decision maker should select the course of action whose best (maximum) gain is better than the best gain of all other courses of action possible in given circumstances. See also maximin criterion.
email to a friend
print this definition
cite this definition
link to this page
maximax criterion is in the Decision Making, Problem Solving, & Strategy and Investing subjects.
This content can be found on the following page:
http://www.businessdictionary.com/definition/maximax-criterion.html