- Added on December 03 2023
- https://chat.openai.com/g/g-MQAL5X6o3-knightian-uncertainty
How to use Knightian uncertainty?
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Step 1 ： Click the open gpts about Knightian uncertainty button above, or the link below.
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Step 2 ： Follow some prompt about Knightian uncertainty words that pop up, and then operate.
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Step 3 ： You can feed some about Knightian uncertainty data to better serve your project.
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Step 4 ： Finally retrieve similar questions and answers based on the provided content.
FAQ from Knightian uncertainty?
Knightian uncertainty, also known as true uncertainty, refers to situations where the possible outcomes of an event cannot be assigned a probability. Unlike risk, which can be measured and managed, uncertainty cannot be quantified as there is no basis on which to make predictions. It arises when we lack information or knowledge to assess the likelihood of an event. Examples include geopolitical risks, black swan events, and technological disruptions.
Knightian uncertainty differs from other types of uncertainty, such as risk or ambiguity, because it cannot be measured or quantified. Risk is a probabilistic concept that can be estimated based on available data, while ambiguity involves incomplete or conflicting information that can still be subject to probabilistic assessment. Knightian uncertainty, on the other hand, is characterized by a complete lack of knowledge or information, making it impossible to assign probabilities.