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1/ Risk exists when potential future states and their probabilities are known.
Uncertainty exists when future states are known, but their probabilities are not.
Ignorance exists when future states aren't known and therefore probability isn't computable.
www.reuters.com/article/businessNews/idUSKBN2FH00J?il=0
Uncertainty exists when future states are known, but their probabilities are not.
Ignorance exists when future states aren't known and therefore probability isn't computable.
www.reuters.com/article/businessNews/idUSKBN2FH00J?il=0
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Jim OShaughnessy @JimOShaughnessy
ยท
Aug 16, 2021
Good thread from Tren