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In the Hurwicz Equation,Hᵢ = α X (Maximum Payoff)+ (1-α)X

Question 21

Multiple Choice

In the Hurwicz equation,Hᵢ = α x (maximum payoff) + (1-α) x (minimum payoff) ; if we set α = 1,then the equation reduces to ______.

A) maximin criterion
B) maximax criterion
C) Laplace criterion
D) minimax regret criterion

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