Knightian

adj

adj ·Rare ·Advanced level

Definitions

Adjective
  1. 1
    Of or relating to Frank Knight (1885–1972), American economist.

    "When the data point clearly to a probability either in excess of 10 percent or less than 10 percent, then we are in a world of Knightian risk in which the decision can be based on expected utility maximization."

Example

More examples

"When the data point clearly to a probability either in excess of 10 percent or less than 10 percent, then we are in a world of Knightian risk in which the decision can be based on expected utility maximization."

Etymology

From Knight + -ian.

Related phrases

Knightian uncertainty

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Data sourced from Wiktionary, WordNet, CMU, and other open linguistic databases. Updated March 2026.