Definition

The largest value among the smallest possible gains that can be achieved in a situation where choices are made, often used in decision-making and game theory.

Example

In game theory, the maximin strategy helps players secure the best worst-case outcome.

Conversation

Have you ever heard of the term maximin?

Yeah, I think it relates to making the best choice under the worst conditions.

Exactly! It’s all about finding the largest minimum gain.

That sounds really useful in decision-making situations.

Synonyms & Antonyms

Definition

To use a strategy that maximizes the minimum gain or outcome in decision-making or optimization problems.

Example

In game theory, players often maximin their strategies to ensure the best worst-case scenario.

Tense Forms

Conversation

Have you ever thought about how we can maximin our chances of winning at that game?

Not really, but it sounds interesting! How would we do that?

We could try using a maximin strategy to make safer choices.

Root Explanation

Maximin is derived from the Latin root "maximus" (meaning greatest) and the suffix "-in" (used to form adjectives). The term "maximin" refers to the maximum of the minimum values, often used in decision theory and optimization contexts.

Memory Tip

Think of 'greatest' ('maximus') to remember that 'maximin' refers to the maximum of the minimum values.

Visually Confused Words