The Minimax, the Minimin, and the Hurwicz Adjustment Principle

Theory and Decision 52 (3):233-260 (2002)
In this paper the Hurwicz decision rule is applied to an adjustment problem concerning the decision whether a given action should be improved in the light of some knowledge on the states of nature or on other actors' behaviour. In comparison with the minimax and the minimin adjustment principles the general Hurwicz rule reduces to these specific classes whenever the underlying loss function is quadratic and knowledge is given by an ellipsoidal set. In the framework of the adjustment model discussed in this paper Hurwicz's optimism index can be interpreted as a mobility index representing the actor's attitude towards new external information. Examples are given that serve to illustrate the theoretical findings
Keywords Adjustment model  Ellipsoidal information  Hurwicz principle  Minimax principle  Minimin principle  Quadratic loss function
Categories No categories specified
(categorize this paper)
DOI 10.1023/A:1019602429921
 Save to my reading list
Follow the author(s)
My bibliography
Export citation
Find it on Scholar
Edit this record
Mark as duplicate
Revision history Request removal from index
Download options
PhilPapers Archive

Upload a copy of this paper     Check publisher's policy on self-archival     Papers currently archived: 22,675
External links
Setup an account with your affiliations in order to access resources via your University's proxy server
Configure custom proxy (use this if your affiliation does not provide a proxy)
Through your library
References found in this work BETA

No references found.

Add more references

Citations of this work BETA

No citations found.

Add more citations

Similar books and articles
Juan Urrutia Elejalde (2008). Puzzles and Problems. Poznan Studies in the Philosophy of the Sciences and the Humanities 96 (1):49-70.

Monthly downloads

Added to index


Total downloads

20 ( #205,679 of 2,259,855 )

Recent downloads (6 months)

5 ( #124,527 of 2,259,855 )

How can I increase my downloads?

My notes
Sign in to use this feature

Start a new thread
There  are no threads in this forum
Nothing in this forum yet.