maximin

noun
maxi·​min | \ˈmak-sə-ˌmin \

Definition of maximin 

: the maximum of a set of minima especially : the largest of a set of minimum possible gains each of which occurs in the least advantageous outcome of a strategy followed by a participant in a situation governed by game theory — compare minimax

First Known Use of maximin

1951, in the meaning defined above

History and Etymology for maximin

maximum + minimum

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The first known use of maximin was in 1951

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