In our model of decision making under different conditions, what is the difference between risk and uncertainty?

• A. Under risk, there is a well defined problem; under uncertainty, the definition is unclear
• B. Under risk, choices are clear and the chances of different outcomes can be measured; under uncertainty, neither applies.
• C. Under risk, probabilities can be measured; under uncertainty, they cannot.
• D. Under risk, information is reliable; under uncertainty, it is not.