Untangling Risk, Uncertainty, and Ignorance

22nd February 2021

Untangling Risk, Uncertainty, and Ignorance

A critical diagram is:

 

From Richard Zeckhauser. The full paper is here: Risk, Uncertainty and Ignorance in Investing and Business – Lessons from Richard Zeckhauser   – 25iq

Study and worry over fully understanding this diagram and its implications for much – but especially investing and public policy.

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