Knightian uncertainty
/ˈnaɪtiən ʌnˈsɜːrtənti/
uncertainty that cannot be quantified with probabilities
“Novel situations involve Knightian uncertainty, not just risk.”
Origin: From economist Frank Knight (1921)
/ˈnaɪtiən ʌnˈsɜːrtənti/
uncertainty that cannot be quantified with probabilities
“Novel situations involve Knightian uncertainty, not just risk.”
Origin: From economist Frank Knight (1921)