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Brain Lenses
Knightian Uncertainty

Knightian Uncertainty

Colin Wright's avatar
Colin Wright
Jul 27, 2023
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Brain Lenses
Brain Lenses
Knightian Uncertainty
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In the world of economics, Knightian Uncertainty refers to a type of ignorance that limits our capacity for preparation.

More specifically, it points at situations in which we cannot have quantifiable knowledge about the possibility of something happening, and as a consequence there's a ceiling on what we can know and do about that potential occurrence.

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