The Nature of Uncertainty

Abstract

A distinction is made between risk and uncertainty. In a risky situation the objective probability distribution of the random event involved in the problem is known. In situations of uncertainty nothing about the objective probabilities involved is known, and hence the problem must be dealt with in terms of subjective considerations -- either formal or informal.

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Document Details

Document Type
Technical Report
Publication Date
Nov 01, 1973
Accession Number
ADA044831

Entities

People

  • G. H. Fisher

Organizations

  • RAND Corporation

Tags

Communities of Interest

  • Weapons Technologies

DTIC Thesaurus Topics

  • Corporations
  • Cost Analysis
  • Cost Estimates
  • Cost Models
  • Costs
  • Databases
  • Department Of Defense
  • Life Cycles
  • Models
  • New York
  • Probability
  • Probability Distributions
  • Sensitivity
  • Systems Analysis
  • Uncertainty
  • Weapon Systems
  • Weapons

Readers

  • Mathematical Modeling and Probability Theory.
  • Systems Analysis and Design
  • Team-Based Human-Centered Cognitive Task Decision Making and Information Performance.