On risk, ambiguity, and uncertainty—with a special emphasis on innovation

Ismail Benslimane, Nabil Sifouh, Sanae Benjelloun (), Karim Ameziane and Yassire Elotmani
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Ismail Benslimane: USMBA - Université Sidi Mohamed Ben Abdellah [Fès]
Nabil Sifouh: Université Mohammed Premier [Oujda] = Université Mohammed Ier = University of Mohammed First
Sanae Benjelloun: USMBA - Université Sidi Mohamed Ben Abdellah [Fès]
Karim Ameziane: UCD - Université Chouaib Doukkali
Yassire Elotmani: UM5 - Université Mohammed V de Rabat [Agdal]

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Abstract: The objective of this article is to highlight three key concepts in the field of innovation: risk, ambiguity, and uncertainty. To this end, we reviewed the literature to identify the (probability/outcome) pair that helps distinguish these three notions and prevent any confusion. Particular attention is given to the eight types of uncertainty related to innovation, as well as to the various mechanisms available to reduce them. This research also aims to identify the primary source of ambiguity in innovative industries – namely, complexity – while addressing the risks inherent in technological innovation, whether internal or external. Finally, the article proposes an 'uncertainty tree' that synthesizes these various dimensions and situates the three aspects of uncertainty within a process-oriented framework, in order to determine the respective phases in which they emerge.

Keywords: unforeseen uncertainty; radical uncertainty; uncertainty tree; ambiguity; risk (search for similar items in EconPapers)
Date: 2025
New Economics Papers: this item is included in nep-sbm and nep-upt
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Published in African Scientific Journal, 2025, 3 (32), https://africanscientificjournal.com/index.php/AfricanScientificJournal/article/view/1383/1271. ⟨10.5281/zenodo.17338961⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05312346

DOI: 10.5281/zenodo.17338961

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