A maximin strategy is one in which each player determines the worst outcome for each
of the opponent’s actions and chooses the option that maximizes the minimum gain
that can be earned. Unlike the Nash equilibrium, the maximin solution does not
require players to react to an opponent’s choice. If no dominant strategy exists (in
which case outcomes depend on the opponent’s behavior), players can reduce the
uncertainty inherent in relying on the opponent’s rationality by conservatively
following a maximin strategy. The maximin solution is more likely than the Nash
solution in cases where there is a higher probability of irrational (non-optimizing)
behavior.