A decision d is dominated by another decision D if, for every outcome, the payoff from D is better than (or no worse than) the payoff from d. a. Explain why you would never choose a dominated...


A decision d is dominated by another decision D if, for every outcome, the payoff from D is better than (or no worse than) the payoff from d. a. Explain why you would never choose a dominated decision, using the maximin criterion; using the maximax criterion; using the EMV criterion. b. Are any of the decisions in the simple threedecision, three-outcome example dominated by any others? What about in the SciTools example?



May 22, 2022
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