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Tag Archives: legendary economist
Risk that can be measured Vs. Uncertainty that cannot be measured
The Freakonomics guys (on nuclear energy): [...] The answer may lie in a 1916 doctoral dissertation by the legendary economist Frank Knight. He made a distinction between two key factors in decision making: risk and uncertainty. The cardinal difference, Knight … Continue reading →
Posted in All Best Posts Ever, Analysis (Meta), Economics, Explainers, Psychology
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Tagged Frank Knight, legendary economist, nuclear energy
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