DECISION ANALYSIS | Maximax, Maximin, Minimax Regret, Hurwicz Criterion, and Laplace Criterion. скачать в хорошем качестве

DECISION ANALYSIS | Maximax, Maximin, Minimax Regret, Hurwicz Criterion, and Laplace Criterion.

In this video, we discuss some non-probability criteria when making decisions. These five criteria are: 9:27 - Maximax Criterion 11:54 - Maximin Criterion 15:28 - Minimax Regret Criterion 24:27 - Hurwicz Criterion 29:33 - Equal Likelihood or the Laplace Criterion Those five criteria are non-probabilistic, and mainly utilize the level of optimism of the decision-maker. Hence, these criteria are somehow biased and solely based on the decision-maker's judgment. ======================================================== Please also watch the second part of this discussion by clicking the link below:    • DECISION ANALYSIS | Expected Value Method ...   ======================================================== For more videos on Management Science, please subscribe to my channel and click the notification bell so you will be notified whenever I will upload new videos.