Question: The Sharks major league baseball team is going to enter the free agent market over the winter to sign a new starting pitcher. They have
The Sharks major league baseball team is going to enter the free agent market over the winter to sign a new starting pitcher. They have five prospects that will enter the free agent market that they are considering. All five pitchers are in their mid-twenties, have been in the major leagues for approximately five years, and have been relatively successful. The team's general manager has compiled a lot of information about the pitchers from scouting reports and their playing histories since high school. He has developed a chart projecting how many wins each pitcher will likely have during the next 10 years given three possible future states of naturethat the pitchers will be relatively injury free, they will have a normal career with injuries, or that they will have excessive injuries, as shown in the following payoff table:
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Determine the best pitcher to sign, using the following decision criteria:
a. Maximax
b. Maximin
c. Equal likelihood
d. Hurwicz (α=.35)
Physical Condition Pitcher Miguel Garcia Juan Ramon Fred Terry Alan Rodriguez Jared Washburn No Injuries Normal Excessive Injuries 142 164 129 112 124 140 108 92 94 65 58 76 87 63
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