If you wondered about some of the $10 words in risk management, and particularly if you are preparing to read something from Nassim Taleb, Squair has a clear and concise explanation of epistemic risk in his posting entitled, conveniently, "Epistemic and aleatory risk".
If you're a safety person, you might want to read a related posting that uses the definitions and concepts in an discussion of the recent nuclear plant debacle.
Of course, if you do read Taleb's stuff, here's his commentary on the nuclear thing as given on valuewalk.com
