Rakow, Tim - In: Judgment and Decision Making 5 (2010) 6, pp. 458-466
Economist Frank H. Knight (1885--1972) is commonly credited with defining the distinction between decisions under ``risk'' (known chance) and decisions under ``uncertainty'' (unmeasurable probability) in his 1921 book Risk, Uncertainty and Profit. A closer reading of Knight (1921) reveals a host...