Poisson's ratio (\(\nu\)) is the ratio of lateral strain to axial strain when a material is stretched. It typically lies between 0 and 0.5 for most materials. For many materials, the value of Poisson's ratio is around 0.3. The theoretical maximum value is 0.5, which occurs when the material deforms elastically and incompressibly, such as rubber or certain idealized materials. Values greater than 0.5 would imply a material with negative volume change under tension, which is impossible for real materials. Thus, the correct answer is 0.5.