EXPERIMENTS IN MINI‐MAX DECISION‐MAKING PROBLEMS

Abstract

The process of decision‐making in a situation of uncertainty is examined; it is assumed that it is possible to obtain additional information with the help of some additional experiments. The cost of performing the experiments and the losses connected with making wrong decisions when there is a lack of information can be measured in the same units (for example, usefulness). The problem of optimum planning of experiment and the problem of decision‐making using the results are considered in order to minimize the above costs. The algorithm of constructing the optimum mini‐max plan is obtained. The special case of the problem is examined and a regular solution for it is obtained.

Citation

PASHKOVSKI, G.S. (1979), "EXPERIMENTS IN MINI‐MAX DECISION‐MAKING PROBLEMS", Kybernetes, Vol. 8 No. 4, pp. 315-321. https://doi.org/10.1108/eb005535