minimax

 
Pronunciation: /ˈmɪnɪmaks/

noun

Mathematics
  • the lowest of a set of maximum values. Compare with maximin.
  • [as modifier] (in game theory) denoting a strategy that minimizes the greatest risk to a participant.
  • [as modifier] denoting the theory that in a game with two players, a player’s smallest possible maximum loss is equal to the same player’s greatest possible minimum gain.

Origin:

1940s: blend of minimum and maximum