The most well-known definitions of risk focus in one way or another on the results of our decisions. They all look at the results of our decisions or actions, they focus on they outcome-risk. But a decision is a question of weighing together knowledge and values. A decision maker who in a rational way acknowledges and manages his ignorance manages risks better than others. It will be argued that ignorance is a risk in itself.
Ignorance can often be considerably more dangerous than traditionally measurable outcome-risks.
A number of case probes will be used in order to show how lack of robust knowledge leads to a considerable epistemic-risk, which in turns means that we cannot accurately monitor the outcome risks involved.