Correction Concepts
Risk vs Uncertainty: What People Confuse
Risk has known probabilities; uncertainty doesn't. With risk you can calculate odds, with uncertainty you can't even assign probabilities to outcomes.
Needs stronger evidence
What was corrected
What the page claimed
The article presented a specific quotation as a direct Frank Knight quote without noting its uncertain provenance.
What was corrected
Added a note that the quotation is a widely circulated paraphrase rather than a verified direct quotation from Knight's original text.
Why this is better
The quotation is commonly attributed to Knight online but its exact wording could not be verified traceable to his 1921 book. Correction adds the appropriate caveat rather than removing the (broadly accurate) idea it conveys.
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