Claim validation

Nabil Al-Najjar*, Luciano Pomatto, Alvaro Sandroni

*Corresponding author for this work

Research output: Contribution to journalArticlepeer-review

2 Scopus citations

Abstract

Hume (1748) challenged the idea that a general claim (e.g., "all swans are white") can be validated by empirical evidence, no matter how compelling. We examine this issue from the perspective of a tester who must accept or reject the forecasts of a potential expert. If experts can be skeptical about the validity of claims then they can evade rejection strategically. In contrast, if experts are required to conclude that claims backed by sufficient evidence are likely to be true, then they can be tested and rejected. These results provide an economic rationale for claim validation based on incentive problems.

Original languageEnglish (US)
Pages (from-to)3725-3736
Number of pages12
JournalAmerican Economic Review
Volume104
Issue number11
DOIs
StatePublished - Nov 1 2014

ASJC Scopus subject areas

  • Economics and Econometrics

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