57 lines
1.2 KiB
Markdown
57 lines
1.2 KiB
Markdown
---
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id: uncertainty
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aliases: []
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tags:
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- topic/risk
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- type/encyclopedia
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title: Uncertainty
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dg-publish: true
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---
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# Uncertainty
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## TALK
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## TODO
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The term "uncertainty" refers to the possibility of multiple outcomes.
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## Information
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In statistical inference and [[strategy]],
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**information** is the resolution of uncertainty.
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[[value-of-information]]
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## Types of Uncertainty
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### Aleatory Uncertainty
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> [!info] Also Known As
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> * statistical uncertainty
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> * stochastic uncertainty
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> * random error
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Aleatory uncertainty is inherent randomness in data that can't be explained away.
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### Epistemic Uncertainty
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> [!info] Also Known As
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> * systematic uncertainty
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> * model uncertainty
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Epistemic uncertainty is that which arises from a lack of knowledge,
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and can be eliminated with access to [[#information]].
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Under Bayesian statistics,
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all uncertainty is epistemic.
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## See Also
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* [Uncertainty analysis](https://en.wikipedia.org/wiki/Uncertainty_analysis)
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* [Uncertainty quantification](https://en.wikipedia.org/wiki/Uncertainty_quantification)
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* [Propagation of uncertainty](https://en.wikipedia.org/wiki/Propagation_of_uncertainty)
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* [Sensitivity analysis](https://en.wikipedia.org/wiki/Sensitivity_analysis) |