Time to Quantify Falsifiability

Here we argue that the notion of falsifiability, a key concept in defining a valid scientific theory, can be quantified using Bayesian Model Selection, which is a standard tool in modern statistics. This relates falsifiability to the quantitative version of the Occam's razor, and allows transforming some long-running arguments about validity of certain scientific theories from philosophical discussions to mathematical calculations. This is a Letter to the editor.