“…I first examine a prominent explanation in the literature, according to which some cognitively penetrated perceptual experiences are like conclusions of bad inferences: just as beliefs resulting from bad inferences are less justified, perceptual experiences resulting from bad inferences also have less justificatory power. I call this theory 1 For some defenses of the Downgrade Thesis, see Ghijsen [2016], Long [2018], Lyons [2011Lyons [ , 2016, McGrath [2013], Munton [2019], Siegel [2012Siegel [ , 2013Siegel [ , 2017, Teng [2016], and Vance [2014].…”