vault backup: 2025-08-08 14:29:11

uncertainty.md

@@ -2,7 +2,7 @@
 id: uncertainty
 aliases: []
 tags:
-  - risk
+  - topic/risk
 ---
 # Uncertainty
 
@@ -23,6 +23,13 @@ In statistical inference and [[strategy]],
 It is the value of the reduction in uncertainty
 that the information provides.
 
+In a monetary context, it is the reduction of
+expected opportunity loss.
+
+$$
+\text{EVI} = \text{EOL} - \text{EOL}|I
+$$
+
 ### Expected Value of Perfect Information
 
 Expected value of perfect information (EVPI)