Knightian uncertainty
nounEtymology
Named after University of Chicago economist Frank Knight (1885–1972).
Definitions
A lack of any quantifiable knowledge about some possible occurrence, as opposed to the…
A lack of any quantifiable knowledge about some possible occurrence, as opposed to the presence of quantifiable risk.
- In addition, it is hard currently to assign probabilities to these scenarios. This is something economists refer to as Knightian uncertainty.
The neighborhood
Vish — recursive loop
No curated loop yet for Knightian uncertainty. Loops are being traced one word at a time while the ingestion pipeline matures.
sense glosses and etymology drawn from English Wiktionary · source · CC-BY-SA