There is a way... which comes from economics and social science. It was developed by... Frank Knight, and Keynes used this... The distinction between… - David Spiegelhalter

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There is a way... which comes from economics and social science. It was developed by... Frank Knight, and Keynes used this... The distinction between risk and uncertainty...
[R]isk is about things... we... understand... known unknowns, to use Donald Rumsfeld's... great phrase... [something] we can put numbers on, things within... circumscribed situations... A lot of medicine is like this... repetition, a lot of data. ...[I]nsurance is like this ...We know roughly what the chances are, and we can talk about the numbers.
Uncertainty is when... we don't know the numbers, or... deeper... we don't even know... the problem... the options... the possible outcomes...

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About David Spiegelhalter

Sir David John Spiegelhalter (born 16 August 1953) is a British statistician and a Fellow of . From 2007 to 2018 he was in the Statistical Laboratory at the University of Cambridge. He is an ISI highly cited researcher and current Chair of the Winton Centre for Risk and Evidence Communication in the . In 2020 he joined the UK Statistics Authority board as a non-executive director for a period of three years, which was extended through to 2026.

Also Known As

Birth Name: David John Spiegelhalter
Alternative Names: David J Spiegelhalter David J. Spiegelhalter Sir David John Spiegelhalter
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Additional quotes by David Spiegelhalter

This current COVID-19 virus... is a classic situation... of... an uncertainty problem, rather than a risk problem because we... don't know the parameters. We don't know... how it might spread in Great Britain. We don't know the effectiveness of the interventions that are going to be made. So... when you're making projections... over the next 6 months, there's a massive range of possibilities, up to 1/2 million deaths... from about 5... the most optimistic... [A]ny quantification, giving any probabilities would be... very ambitious...

[S]easonal flu—average year—kills 6,000 people in this country. Mainly old... vulnerable... frail...[etc.] So we are hit by this, year after year... epidemics... we've got to put this into perspective... [T]o an extent it is a trade-off between massive disruption... [I]f you say everyone has to stay in their home for 4 weeks... that's not just economic loss. It has a massive... health... [detriment] in terms of... mentality and fitness. Norsemen of harm will be done... so it's not just a matter of... "Minimize the number of deaths."

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That change in life expectancy is not that gripping in itself. So what we've done in the book, it does seem a rather a strange thing to say... "Over an adult lifetime, about... 50-60 years... take a year off your life." It's like losing roughly 1/50 of your life. It's actually because of... these daily habits... like losing a week every year of your life, the same as losing 1/2 hour off a day. So we could say... that... 2 hours watching television... it's as if it's taking 1/2 hour... off your life. ...You're aging an extra 1/2 hour sitting on your backside watching television ...

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