The anatomy of ignorance

Diagnoses from literature

Authored by: Devjani Roy , Richard Zeckhauser

Routledge International Handbook of Ignorance Studies

Print publication date:  May  2015
Online publication date:  May  2015

Print ISBN: 9780415718967
eBook ISBN: 9781315867762
Adobe ISBN: 9781317964674

10.4324/9781315867762.ch7

 Download Chapter

 

Abstract

Ignorance represents a situation in which some potential outcomes are not even identified. Often they are both unknown and unknowable (Gomory, 1995; Zeckhauser, 2006). On a continuum that begins with risk and progresses through uncertainty, ignorance is the third, final, and most extreme state in the sequence. With risk and uncertainty, the possible future states of the world are known. With risk, their probabilities are known as well; with uncertainty, their probabilities are unknown. A roll of two dice involves risk; a prediction about the stock market a year hence involves uncertainty.

 Cite
Search for more...
Back to top

Use of cookies on this website

We are using cookies to provide statistics that help us give you the best experience of our site. You can find out more in our Privacy Policy. By continuing to use the site you are agreeing to our use of cookies.