Theory and Decision 66 (1):1-16 (2009)

Abstract
One central objection to the maximin payoff criterion is that it focuses on the state that yields the lowest payoffs regardless of how low these are. We allow different states to have different sets of possible outcomes and show that the original axioms of Milnor (1954) continue to characterize the maximin payoff criterion, provided that the sets of payoffs achievable across states overlap. If instead payoffs in some states are always lower than in all others then ignoring the “bad” states is no longer inconsistent with these axioms. Similar dependence on overlap of outcome spaces across states holds for the minimax regret and maximin joy criteria
Keywords complete uncertainty  maximin  minimax regret  state-dependent outcomes
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DOI 10.1007/s11238-007-9082-y
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References found in this work BETA

Statistical Decisions Under Ambiguity.Jörg Stoye - 2011 - Theory and Decision 70 (2):129-148.
Games Against Nature.John Willard Milnor - 1954 - In R. M. Thrall, C. H. Coombs & R. L. Davis (eds.), Decision Processes. New York: Wiley.
The Theory of Statistical Decision.Leonard J. Savage - 1951 - Journal of the American Statistical Association 46:55--67.

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Statistical Decisions Under Ambiguity.Jörg Stoye - 2011 - Theory and Decision 70 (2):129-148.

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