maximin criterion


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Related to maximin criterion: maximax criterion, minimax criterion

maximin criterion

[′mak·sə‚min krī‚tir·ē·ən]
(mathematics)
References in periodicals archive ?
In support of the first of these propositions, that a maximin criterion should apply to "first principle goods," Pogge merely states the following:
58) The idea that a just basic structure would maximise the worth of liberty for the least advantaged is best understood as the application of a maximin criterion in evaluating the extent to which institutions realise the second principle of justice.
Hence, the maximin criterion applied to this problem meets commonsense criteria of choice under uncertainty by favoring a policy which is not overly sensitive to the state of the world that proves true.
The chapter furthermore contains an interesting conjecture regarding the prominent role of the maximin criterion in Rawls's theory, and criticisms of the thick veils of ignorance proposed by "Kanteans" Harsanyi and Rawls.
Solow (1974), for example, showed that Rawls's (1971) maximin criterion implied the maintenance of a constant level of utility through time.
An earlier contribution showed that application of the maximin criterion under nonpaternalistic altruism may lead to time-inconsistent paths in a standard growth model facing an exhaustible resource constraint (Asheim 1988).