Purpose – The purpose of this editorial is to explore the usefulness of distinguishing between “risk” and “Knightian uncertainty.” Design/methodology/approach – The paper presents a representative, insurance-based model of Knightian uncertainty arising out of potential major...

Purpose – The purpose of this editorial is to consider the existence and implications of epistemological constraints in the field of risk finance arising from statistical inequalities similar to the Cramér-Rao lower bound (CRLB) of statistical estimation theory and the Heisenberg uncertainty...

Purpose – The purpose of the paper, in this two-part series, is to consider certain intriguing aspects of randomness, the basic mathematical concept used to model financial risk and other unknown quantities in the physical world. Design/methodology/approach – In Part 2 of the paper, the...

Purpose – In this two-part series, this paper seeks to consider certain intriguing aspects of randomness, the basic mathematical concept used to model financial risk and other unknown quantities in the physical world. Design/methodology/approach – Part 1 applies concepts from quantum physics...

Purpose – The purpose of this editorial is to explore the usefulness of distinguishing between “risk” and “Knightian uncertainty.” Design/methodology/approach – The paper presents a representative, insurance-based model of Knightian uncertainty arising out of potential major...

Purpose – The purpose of this editorial is to consider the existence and implications of epistemological constraints in the field of risk finance arising from statistical inequalities similar to the Cramér-Rao lower bound (CRLB) of statistical estimation theory and the Heisenberg uncertainty...

Purpose – In this two‐part series, this paper seeks to consider certain intriguing aspects of randomness, the basic mathematical concept used to model financial risk and other unknown quantities in the physical world. Design/methodology/approach – Part 1 applies concepts from quantum...

Purpose – The purpose of the paper, in this two‐part series, is to consider certain intriguing aspects of randomness, the basic mathematical concept used to model financial risk and other unknown quantities in the physical world. Design/methodology/approach – In Part 2 of the paper, the...

Purpose – The purpose of this editorial is to explore the usefulness of distinguishing between “risk” and “Knightian uncertainty.” Design/methodology/approach – The paper presents a representative, insurance‐based model of Knightian uncertainty arising out of potential major...

Purpose – The purpose of this editorial is to consider the existence and implications of epistemological constraints in the field of risk finance arising from statistical inequalities similar to the Cramér‐Rao lower bound (CRLB) of statistical estimation theory and the Heisenberg...