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Epistemic uncertainty is something you don’t know but is, at least in theory, knowable. If you wanted to predict the workings of a mystery machine, skilled engineers could, in theory, pry it open and figure it out. Mastering mechanisms is a prototypical clocklike forecasting challenge. Aleatory uncertainty is something you not only don’t know; it is unknowable. No matter how much you want to know whether it will rain in Philadelphia one year from now, no matter how many great meteorologists you consult, you can’t outguess the seasonal averages.
Superforecasting: The Art and Science of Prediction
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