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For ordinary Germans, the war and the naval blockade resulted in
Probability
Probability is a measure or estimation of how likely it is that an event will occur, expressed as a number between 0 and 1.
Utility
In economics, a measure of satisfaction or happiness that consumers derive from consuming goods and services.
Von Neumann-Morgenstern
A theory designed to understand the utility of outcomes in strategic games, emphasizing the mathematical expected utility.
Expected Utility
A theory in economics that calculates the utility of an outcome based on its probability and the utility of the outcomes.
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