Format Book / Offline paper
Location PART 3 - THE THIRD AXIS CHAPTER 12: DARK INFORMATION Uncertainty Gives Rewards

"Frank Knight distinguished measurable risk from non-quantitative or unmeasurable uncertainty."

Knight defines measurable uncertainty as risk and reserves true uncertainty for cases that cannot be reduced to quantitative measurement.

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Source title Risk, Uncertainty, and Profit
Source authors Frank H. Knight
Source year 1921
Confidence high
Importance high
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