Minimax Principle
Barron's Business Dictionary:
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Minimax Principle
Decision criterion based on reducing to the lowest level the difference between the possible outcomes and the best possible outcome resulting from the decision. The minimax principle is used to select result(s) with the least amount of regret in case of failure.
| Mini-Warehouse, Mineral Rights, Mineral Lease | |
| Minimum Lease Payments, Minimum Lot Area, Minimum Payment |
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Minimax Principle
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Barron's Business Dictionary
Dictionary of Business Terms. Copyright © 2007 by Barron's Educational Series, Inc. All rights reserved.
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