 This rule is also sometimes known as MMEU. For the Ellsberg choices, the minimum expected utilities are, for \(f_1\), \(f_2\), \(f_3\), and \(f_4\), respectively: \(\lfrac{1}{3},\) \(0,\) \(\lfrac{1}{3},\) and \(\lfrac{2}{3},\). These values rationalize the common preference for \(f_1 \gt f_2\) and \(f_4 \gt f_3.\) Conversely, an individual who maximizes her maximum expected utility—who uses Γ-maximax—would have the reverse preferences.