In the world of epistemology, “Epistemic Risk” refers to the risks associated with being wrong about something.
The general idea is that believing something that isn’t true comes with certain risks, because—for instance—if you believe you can fly and act upon that incorrect assertion, you very well might injure yourself or even die. If you believe someone likes you but they don’t, and you ask them out on a date based on that incorrect belief, you could feel embarrassed (which is a less-horrible outcome than injury or death, but may not feel that way, in the moment).
“Epistemic Anxiety” refers to anxiety predicated on Epistemic Risk; worrying that one might be wrong about something.
There are many theories as to what Epistemic Anxiety actually is, where it comes from, and what evolutionary purpose (if any) it might serve.
Some theorists posit that it’s a flavor of anxiety that simply chooses uncertainty as one of many possible things to worry about, while others suggest it’s an emotional response to the negative repercussions of believing something that isn’t true (the injury, death, or embarrassment, rather than being focused on the possibility of being wrong).
It’s been argued that this type of anxiety (where it comes from) might be a motivating force for sentient creatures, as this could be what pushes us to explore and learn and re-learn over the course of our lives. Lacking that nudge (or full-body push), we might otherwise make even more bad assumptions about things than we already do, because we wouldn’t feel as much inclination to expend the time and energy required to fill the gaps in our understanding and recheck the assumptions we’ve previously made.
Through that lens, Epistemic Anxiety might even be considered a virtue, as this type of worrying may help us become more right about things over time.
It’s also been proposed that Epistemic Anxiety and curiosity may be two sides of the same coin, pushing humans to go out and try and do and learn, even to the point of taking risks (social, psychological, and physical) because we’re motivated by both anxiety and wonder.
That two-pronged approach may be more effective than just one or the other, as someone who would benefit from additional knowledge but is too exhausted to put in the effort may be incentivized to pursue said knowledge, anyway, if it feels fun and interesting.
Similarly, someone who doesn’t feel like doing anything (even interesting, fun stuff—curiosity not motivating them), may be compelled to learn if they worry about the potential negative consequences of failing to do so.