Definitions

1. noun

a strategy for decision-making under uncertainty, aiming to minimize the maximum possible loss, often used in game theory and economics.

“The company used a minimax approach to determine the best course of action in case of a global economic downturn.”

2. verb

to make a decision based on a minimax strategy.

“The manager minimized and maximized the possible outcomes before making a decision.”

3. adjective

designed to minimize the maximum possible loss.

“The company developed a minimax algorithm to predict and prepare for potential market fluctuations.”