Maximax

Quick meaning: Maximax is a noun meaning (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); often used attributively, as "maximax strategy", "maximax approach", and so on.

Meaning

(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); often used attributively, as "maximax strategy", "maximax approach", and so on.

Example Sentences

The first criterion is the Hurwicz criterion, often referred to the maximax criterion. […] the decision-maker is always optimistic and attempts to maximize profits by a go-for-broke strategy.

Related Words

Related dictionary entries include minmax, maximization, antimaximum, minimax, maximin, expectiminimax.

Related Dictionary Tools