1 Quotes by Frank Hyneman Knight

  • Author Frank Hyneman Knight
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    Uncertainty must be taken in a sense radically distinct from the familiar notion of Risk, from which it has never been properly separated..... It will appear that a measurable uncertainty, or "risk" proper.... is so far different from an unmeasurable one that it is not in effect an uncertainty at all.

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    #economics #probability #uncertainty
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Uncertainty must be taken in a sense radically distinct from the familiar notion of Risk, from which it has never been properly separated..... It will appear that a measurable uncertainty, or "risk" proper.... is so far different from an unmeasurable one that it is not in effect an uncertainty at all.

-Frank Hyneman Knight

 

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