Maximin Principle Applied to the Election
In rationality and decision theory, we have the Maximin principle, which states that we look at the worst possible outcomes of every act, and choose the act which produces the least worst outcome. So, if I have to choose between two investments, say Apple and Google, and if the worst case scenario for my Apple investment is I lose $100 and the worst case scenario for my Google investment is that I lose $200, then under the Maximin principle, I should choose to invest in Apple over Google. That is, if course, if I want to minimize my losses. There is something pessimistic about the Maximin principle. If for example, the best case scenario for my Google investment is that I profit 1 million dollars and the best case scenario for my Apple investment is I profit 5 thousand dollars, then we may be rational to choose Google over Apple. But I want to focus on the pessimism because I get the sense that many people are pessimistic about politics and the election these days. So, can the pes...