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In what ways can Innocent III be regarded as the most capable and successful of medieval popes?
Expected Value
A statistical concept that calculates the average outcome of a random event considering all possible scenarios and their probabilities.
Perfect Information
A condition in decision-making and game theory where all parties have complete and accurate information about the situation.
Net Present Value
A financial metric that calculates the present value of all future cash flows of a project or investment, considering the time value of money.
Maximax Strategy
A decision-making approach focused on maximizing the maximum possible payoff, suitable for optimistic decision-makers.
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