Examples
Examples
Try the starting example
- Actions: name, payoff or cost in each state
- A,100,0 B,50,50
- Interpret values as benefit or cost
- benefit
- Regret by action and state
- A: 0, 50; B: 50, 0
- Worst regret by action
- A: 50; B: 50
- Minimax-regret action(s)
- A, B
- Smallest worst-case regret
- 50
Try another scenario
- Actions: name, payoff or cost in each state
- A,100,0 B,30,40
- Interpret values as benefit or cost
- benefit
- Regret by action and state
- A: 0, 40; B: 70, 0
- Worst regret by action
- A: 40; B: 70
- Minimax-regret action(s)
- A
- Smallest worst-case regret
- 40
Calculation method
Calculation method
Regret by action and state
Benefit regret=best state payoff−action payoff. Cost regret=action cost−lowest state cost.
Worst regret by action
Maximum state regret for each action.
Minimax-regret action(s)
Choose action(s) with the smallest maximum regret.
Smallest worst-case regret
Minimum of the action worst-regret values.
Symbols and units
- a
- Actions: name, payoff or cost in each state
- b
- Interpret values as benefit or cost
Use the units shown. A list keeps the order in which you enter its values. The symbol ^ means “raised to the power of”.
Assumptions & limits
Assumptions & limits
- A probability-free minimax-regret rule under the entered state table. It reports the rule’s choice, not a universal recommendation or a forecast of which state will occur.
Are these inputs private?
These calculations run in your browser. A shared link contains the values you choose to share. Only questions submitted to the separate AI finder are sent to OpenAI.
Further reading
MIT: decision criteria and minimax regret ↗
Background reading; this does not imply endorsement or independent review of SumFizz.