Question: PROBLEM ( 2 ) Suppose there are N possible states of the world { s 1 , s 2 , s 3 , . .

PROBLEM (2) Suppose there are N possible states of the world {s1, s2, s3,..., sN}. An act a=(a1, a2, a3,..., aN) is an action that delivers ai units of utility if si happens to be the state of the world, for each i=1,..,N. Suppose the grand set of alternatives (acts!) X ={a,b,c,..,z}. When you face a menu A X, you choose an act in the menu according to: (i) Maximin criterion, or (ii) Maximax criterion, or (iii) Minimax risk (regret) criterion
(In the whole question, ignore any considerations about the case of ties under any criterion; assume there are never equalities/ties that can come up when comparing actions/states...etc.. so that there are no indifferences in any step of choosing an act under any of the criteria, so that you will never have to break any ties in the process) All parts below are separate question
(b) Answer part b shown in the pitcure attachted
(c) answer part c shown in the pitcure attchted
(d) answer part d shown in the pitcure attchted
 PROBLEM (2) Suppose there are N possible states of the world

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