buy
sell
stay put
The problem
A maxmin decision maker judges each action by the worst urn for that action.
1. Final wealth
Wealth after the ball is drawn, for each action and each colour.
2. Worst-case probabilities
The probability of red or blue in the urn that is worst for each action. Fractions such as 30/90 or decimals to two places are accepted.
3. Maxmin expected utility
| Worst-case expected utility |
|---|
Computed from the sliders. The best action is highlighted and matches the strip under the plot.