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Uncertainty or incertitude refers to situations involving imperfect or unknown information. It applies to predictions of future events, to physical measurements that are already made, or to the unknown, and is particularly relevant for decision-making. Uncertainty arises in partially observable or stochastic or complex or dynamic environments, as well as…
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risk measurement may probability value example scientific science information used one values also probabilities error distribution standard often engineering public
| Subject | Predicate | Object | Confidence | Src |
|---|---|---|---|---|
| Uncertainty | is a | irreducible property of nature or if there are | 0.90 | text |
| Uncertainty | is a | central concept quantifying the dispersion one may reasonably attribute to a measurement result | 0.90 | text |
| Uncertainty | is a | important factor in economics | 0.90 | text |
| probability theory | instance of | then clearly the EOL alone is not the perceived value of avoiding the risk.Quantitative uses of the terms uncertainty and risk are fairly consistent among fields | 0.80 | text |
| actuarial science | instance of | then clearly the EOL alone is not the perceived value of avoiding the risk.Quantitative uses of the terms uncertainty and risk are fairly consistent among fields | 0.80 | text |
| and information theory | instance of | then clearly the EOL alone is not the perceived value of avoiding the risk.Quantitative uses of the terms uncertainty and risk are fairly consistent among fields | 0.80 | text |
| the stock market involves Knightian uncertainty when the probability of a rare but catastrophic event is unknown | instance of | Knightian uncertainty involves a situation that has unknown probabilities.Investing in financial markets | 0.80 | text |
| Bayesian inference or Dempster | instance of | probabilistic methods | 0.80 | text |
| Uncertainty | has application | Uncertainty-as-risk | 0.60 | section |
| Uncertainty | has application | In | 0.60 | section |
| Uncertainty | has application | Numerical | 0.60 | section |
| Uncertainty | has application | Similarly | 0.60 | section |
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