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In what sense is Walds Maximin model much more powerful and general than Info-Gaps decision-making model?

April 26, 2017Decision-Making info-gap maximin model powerful sense wald

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In what sense is Walds Maximin model much more powerful and general than Info-Gaps decision-making model?

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Answer-56: The power of Wald’s famous Maximin model is in its versatility. It gives the analyst the freedom to specify the objective function and the uncertainty space to faithfully reflect the problem’s requirements.