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maximax. In DICTIOUS you will not only get to know all the dictionary meanings for the word
maximax, but we will also tell you about its etymology, its characteristics and you will know how to say
maximax in singular and plural. Everything you need to know about the word
maximax you have here. The definition of the word
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English
Etymology
From maxi(mum), maxi(mize) + max(imum).
Pronunciation
Noun
maximax (uncountable)
- (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.
2009, Harold Kerzner, Project Management: A Systems Approach to Planning, Scheduling, and Controlling, Tenth Edition, John Wiley and Sons, →ISBN, page 749: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.
See also