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The distinction between risk and uncertainty seems standard nowadays, but let me briefly note here that risk refers to situations in which probability distribution is given objectively, as in coin flipping or throwing a die. On the other hand, uncertainty refers to situations in which no such thing is given as an object.

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Decision Under Risk

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  • 发表日期：

    2025年

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  • Takashi Hayashi

摘要

The distinction between risk and uncertainty seems standard nowadays, but let me briefly note here that risk refers to situations in which probability distribution is given objectively, as in coin flipping or throwing a die. On the other hand, uncertainty refers to situations in which no such thing is given as an object.