The standard economic theory of crime deterrence predicts that the conviction of an innocent (type-I error) is as … theoretically, showing that in the presence of risk aversion, loss-aversion or sensitivity to procedural fairness, type-I errors … deterrence than an equivalent increase in the probability of type-II errors. This asymmetry is largely explained by risk aversion …

although risk can be measured, uncertainty cannot be measured. Even though risk can be measured, a simple symmetric measure … attempt at "measuring" risk or (fundamental) uncertainty is flawed. …