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Thanks for the clarification. I'm not a risk-management specialist, but I'm very interested in this topic because, as engineers, we deal with risk and uncertainty every day and still have to make decisions. read more
I would like to disagree: There is "aleatoric risk", like throwing a dice where the possible outcomes are known with 1/6 probability. This is also called the "known unknowns". But there is also "epistemic read more