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Related Concept Videos

Uncertainty: Overview00:59

Uncertainty: Overview

In analytical chemistry, we often perform repetitive measurements to detect and minimize inaccuracies caused by both determinate and indeterminate errors. Despite the cares we take, the presence of random errors means that repeated measurements almost never have exactly the same magnitude. The collective difference between these measurements - observed values - and the estimated or expected value is called uncertainty. Uncertainty is conventionally written after the estimated or expected value.
Propagation of Uncertainty from Random Error00:59

Propagation of Uncertainty from Random Error

An experiment often consists of more than a single step. In this case, measurements at each step give rise to uncertainty. Because the measurements occur in successive steps, the uncertainty in one step necessarily contributes to that in the subsequent step. As we perform statistical analysis on these types of experiments, we must learn to account for the propagation of uncertainty from one step to the next. The propagation of uncertainty depends on the type of arithmetic operation performed on...
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Uncertainty: Confidence Intervals00:54

Uncertainty: Confidence Intervals

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Hindsight Biases01:12

Hindsight Biases

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Experimental Research Examining How People Can Cope with Uncertainty Through Soft Haptic Sensations
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Experimental Research Examining How People Can Cope with Uncertainty Through Soft Haptic Sensations

Published on: September 16, 2015

Don't know, can't know: embracing deeper uncertainties when analysing risks.

David J Spiegelhalter1, Hauke Riesch

  • 1Statistical Laboratory, Centre for Mathematical Sciences, Wilberforce Road, Cambridge CB3 0WB, UK. d.spiegelhalter@statslab.cam.ac.uk

Philosophical Transactions. Series A, Mathematical, Physical, and Engineering Sciences
|November 2, 2011
PubMed
Summary
This summary is machine-generated.

Risk analysis models involve various uncertainties stemming from assumptions and model inadequacies. Acknowledging the contingent nature of risk modeling is crucial for policy advice.

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Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
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Published on: September 19, 2012

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Last Updated: May 28, 2026

Experimental Research Examining How People Can Cope with Uncertainty Through Soft Haptic Sensations
09:07

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Published on: September 16, 2015

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods
13:04

Measuring the Subjective Value of Risky and Ambiguous Options using Experimental Economics and Functional MRI Methods

Published on: September 19, 2012

Area of Science:

  • Risk analysis and modeling
  • Decision science
  • Climate change science

Background:

  • Formal models are essential for risk analysis but are subject to various uncertainties.
  • Understanding and communicating these uncertainties is critical for effective decision-making.

Purpose of the Study:

  • To propose a structured approach for assessing and communicating uncertainties in risk models.
  • To examine the challenges in expressing uncertainty, particularly in climate change assessments.

Main Methods:

  • Development of a five-level framework for uncertainty assessment: event, parameter, model uncertainty, and extra-model uncertainties (acknowledged and unknown inadequacies).
  • Analysis of how uncertainties are expressed and communicated across these levels.
  • Drawing parallels with evidence-based medicine for assessing the quality of evidence.

Main Results:

  • Uncertainties in risk models are contingent, arising from judgments based on potentially inadequate assumptions.
  • A five-level structure helps differentiate and communicate various sources of uncertainty.
  • Criticisms of existing methods, like those by the Intergovernmental Panel on Climate Change, highlight challenges in separating likelihood from confidence.

Conclusions:

  • The contingent nature of risk modeling must be explicitly communicated to policymakers.
  • Unconditional expressions of uncertainty in risk assessments remain an ideal rather than a current reality.