Sandroni, Alvaro; Olszewski, Wojciech - Department of Economics, University of Pennsylvania - 2008
Theories can be produced by experts seeking a reputation for having knowledge. Hence, a tester could anticipate that … theories may have been strategically produced by uninformed experts who want to pass an empirical test. We show that, with no … restriction on the domain of permissible theories, strategic experts cannot be discredited for an arbitrary but given number of …