Aleatoric uncertainty
Definition: Variability in outcomes due to unknowable or inherently random factors. The stochastic component of outcome uncertainty that cannot be reduced through additional sources of information. For example, when flipping a coin, uncertainty about whether it will land on heads or tails.
Related terms: Epistemic uncertainty, Knightian uncertainty
Reference: Der Kiureghian and Ditlevsen (2009)
Drafted and Reviewed by: Bradley Baker, Nihan Albayrak-Aydemir , Brett Gall, Magdalena Grose-Hodge, Bethan Iley, Charlotte R. Pennington
We are currently working to link the references directly. For now, the complete reference list can be viewed here.