The Manimax Principle

This principle is used only when consequences are given in the form of opportunity losses which is same as loss table. The decision-maker first observes the maximum opportunity loss over all the various states of nature. He then selects that action for which the maximum opportunity loss is minimum. The principle gives the greatest possible protection against the largest loss. Symbolically, the maximum action is that which minimum the maximum lik.
    Min lil = 4, min l12 = 3, min li3 = 6
      i
Clearly, for action a2 maximum loss is minimum. Hence this principle suggests taking action a2.


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