In cases of great uncertainty limitations are often not well known
Limitations in cases of great uncertainty are often not well understood or well communicated. Statistical methods (particularly in the tails of distributions when insufficient data has been gathered) can be misapplied.
Statistical methods are “Well established” yes, but the limitations of statistical methods, especially when considering infrequent hazards and extreme events (Nassim Taleb’s “Extremistan”), seem to be poorly constrained. Following Taleb, crowdsourcing may be better at making risk decisions if the crowd is more sensitive to the consequences of events than to their probabilities.ges, videos and files. ***