Application of this logic requires an additional, important assumption. One must assume that the content of a request does not deviate from the actual attributes of the underlying venture, or if it does deviate, this deviation is systematic.According to Bull and Watson (2004), we would not expect systematic deviation for easily verifiable information, although it may occur if some entrepreneurs are particularly naive or when information is difficult to verify. For example, revenue projections are likely to deviate systematically because they are difficult to verify. Therefore, revenue projections may be biased upward, but will be discounted accordingly by venture capitalists