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Difference between Risk and Uncertainty

Difference between Risk and Uncertainty

Risk vs. Uncertainty

What is difference between Risk and Uncertainty? We live in a busy world. Each of us takes risks every day and many times we are uncertain about certain things that we should be absolutely sure of. But many of us are distressed by the question, what is the real and essential difference between risk and uncertainty?

Difference between Risk and Uncertainty

The online definition defines risk as “the exposure to the opportunity of injury or loss” “a harm or dangerous possibility” and also defines it as “taking a risk, exposing oneself to the possibility of injury or loss” “put on danger or damage.” It also gives us the definition of uncertainty “the state of being uncertain, doubt, and hesitation”.

At first glance it seems that there is no difference but if you read carefully, you will understand that there is a very thin line between the understandings of these two meanings. We all need to understand that risk and uncertainty are two concepts that are related as human expectations in a special way, but it does not mean that these two concepts are totally relative. Let’s say that flying planes was much more risky 50 years ago and that risk is much lower today but it is still risky, People die in airplanes, right? So we can say that it is relative.

In daily use, we often use the word risk and probability without any difference. Have you ever thought about what risk is exposed every day when you walk a road, when you drink hot coffee or when exposed to the sun? Now, when you are uncertain about something, it is when you definitely do not know anything about it. Another real example is that you may be uncertain about an exam, but if you prepare well and do all the homework, you can be sure about the exam, even if you are still at risk of forgetting everything that was learned or being very emotional, both they have a low probability, but even so they may be possible.

However, it cannot be assumed that risk always has a low probability. So, Experience in life shows that a person often feels uncertainty about something that is vulnerable in a certain way. So, the next time you feel uncertain about something, the first thing you need to verify is whether this uncertainty comes from actual events or from emotions and feelings. Verify that you really have a basis for feeling that uncertainty and see if you can do anything to change the statistics.

We must never be uncertain but we must take risks daily. Do not forget, that even if you are sure about something you did and did not turn out the way you expected, it is not the end of the world. Always remember that if there is no pain, it does not work.

In Summary

  • Risk means danger or threat that one may feel when doing some work, while uncertainty means doubt or ambiguity about a certain thing.
  • Uncertainty comes from emotions while risk can be realistic.
  • The risk may be related to low probability events while the uncertainty may be touched with 100% confidence.

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