What is the rationale behind the minimax regret rule

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What is the rationale behind the minimax regret rule? What are some less formal and precise mehtods of dealing with uncertainty? When are these useful?

How does the adverse selection problem arise in the credit-card market? How do credit-card companies reduce the adverse selection problem that they face? To what complaint does this give rise?

Reference no: EM13186757

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What is the rationale behind the minimax regret rule : What is the rationale behind the minimax regret rule What are some less formal and precise mehtods of dealing with uncertainty. When are these useful. How does the adverse selection problem arise in the credit-card market. To what complaint does ..

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