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SOLUTION UNDER RISK CONDITIONS: LAPLAS CRITERION. MINIMAX AND MAXMIN CRITERION. SAVAGE AND HURWITZ CRITERIA

Mamatova Zilolaxon Khabibullokhonovna,Azimjonova Mohinur Asiljon kizi , Fergana​ State University

Abstract

Decision-making under risk refers to the consideration of risk in decision-making

processes. The Laplace criterion is a method that considers probabilities equal and calculates the average value of each option for each possible situation. The minimax criterion aims to minimize the worst-case scenario under risk. The maxmin criterion is the inverse of the minimax approach. The Savage criterion aims to consider the average and worst-case scenarios in terms of risk in decision-making. The Hurwitz criterion aims to reduce the uncertainty between the average and worst-case scenarios under risk. The approaches presented in this article show what methods can be used in decision-making under risk.

 

Keywords

Risk, decision making, Laplace criterion, minimax criterion, maxmin criterion, Savage criterion, Hurwitz criterion, uncertainty, probabilities, decision making.

References

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IG Bashmakov - "Optimal working release systems " (2005). Modern working release processes to optimize related theoretical and practical approaches showing​ given .

GN Nemchinov - " Linear " economic models " (1972). Economic in systems linear programming and analysis methods to use dedicated .

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SOLUTION UNDER RISK CONDITIONS: LAPLAS CRITERION. MINIMAX AND MAXMIN CRITERION. SAVAGE AND HURWITZ CRITERIA. (2025). International Journal of Artificial Intelligence, 5(04), 1199-1203. https://www.academicpublishers.org/journals/index.php/ijai/article/view/4061