\mˈɪnɪmˌaks pɹˈɪnsɪpə͡l], \mˈɪnɪmˌaks pɹˈɪnsɪpəl], \m_ˈɪ_n_ɪ_m_ˌa_k_s p_ɹ_ˈɪ_n_s_ɪ_p_əl]\
Definitions of MINIMAX PRINCIPLE
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Minimizing the maximum losses that could occur in an event or situation is this specific type of decision-making principle. Should a strategy fail, this financial and business strategy measures potential results leading to the least amount of regret. By the use of logic, determine and use this strategy. Aids deciding when presented with two various and conflicting strategies.
By Henry Campbell Black
Word of the day
- The burning a wad pease straw at end of harvest.