Minimaxing

Part of speech: verb

Definitions

1. A strategic decision-making process aimed at minimizing potential losses while maximizing potential gains
2. An approach in game theory that seeks to reduce the worst-case scenario outcomes while optimizing the best possible results
3. A method employed in decision analysis focused on limiting the maximum possible negative impact while enhancing the maximum possible positive impact

Etymology: "Minimax" is a blend of "minimum" and "maximum," and the trick at its heart is that the two halves of the word pull in opposite directions. The minimax approach asks you to pick the option whose worst outcome is the least bad, rather than chasing the best possible result. In that sense the name is a compact description of the strategy itself: you minimize the damage while still seeking the gain. "Minimaxing" is the -ing form, so it names the act of applying that approach, and it is used as a verb in games and decision theory alike. The concept of minimizing a maximum loss is the more established idea, and the blended word is simply a compact label for it.