Minimax approach

3.2 Minimax approach

Very often in practice we do not have the control over or access to the mechanism generating the state of nature and we are not able to assign priors to various hypotheses. In such a case one criterion is to seek a decision rule that minimizes, over all $δ$ , the maximum of the conditional risks, $R0 (δ)$ and $R1 (δ)$ . A decision rule that fulfills that criterion is called minimax rule.