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From maxi(mum), maxi(mize) + max(imum).


maximax (uncountable)

  1. (economics, computer science, decision theory) A strategy or algorithm that seeks to maximize the maximum possible result (that is, that prefers the alternative with the chance of the best possible outcome, even if its expected outcome and its worst possible outcome are worse than other alternatives); often used attributively, as "maximax strategy", "maximax approach", and so on.
    • 2009, Harold Kerzner, Project Management: A Systems Approach to Planning, Scheduling, and Controlling, Tenth Edition, John Wiley and Sons, ISBN 978-0-470-27870-3, page 749:
      The first criterion is the Hurwicz criterion, often referred to the maximax criterion. […] the decision-maker is always optimistic and attempts to maximize profits by a go-for-broke strategy.

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