Many people—both in academia and policymaking—consider the concept of ‘Knightian Uncertainty’ (roughly, the absence of probabilities for decision-making) to be highly relevant (eg for the purpose of spelling out precautionary principles). Does the concept make sense? If not, is it a problem that many people find it practically relevant?
Many people—both in academia and policymaking—consider the concept of ‘Knightian Uncertainty’ (roughly, the absence of probabilities for decision-making) to be highly relevant (eg for the purpose of spelling out precautionary principles). Does the concept make sense? If not, is it a problem that many people find it practically relevant?