Upon reflection, I have come to the realization that many of the central conflicts that arise in Shakespeare's Henry IV are partially a result of the characters' differing validations of existence. Here are some examples:
Henry IV vs. Prince Hal: Henry IV has a history of lusting after power. After taking the throne from Richard II, Henry goes on to rule England with little care for the will of the people. His validation of existence is maintaining as much power as possible . While it seems that Prince Hal also finds validation for his existence through power, he also find a certain thrill in masking his desires and motivations (his plan to hang out in the pubs so that his reign will seem all the more amazing). It seems that while Henry IV wants power over the people, Hal wants power through the people. This leads to the conflict between Hal, who plans on using the people to gain and maintain power, and his father, who prefers to remain an aloof and mysterious king. Also, through Henry IV's focus on retaining power, he largely ceases caring for the well-being of his son.
Henry IV vs. Hotspur: It seems to me that Hotspur's validation of existence is thorough dedication to what is right. He followed Henry IV loyally because his reign seemed more righteous than that of Richard II. However, once Henry IV starts ignoring his friends and ruling in a way that Hotspur thinks is unjust, Hotspur decides that he must dedicate himself to taking this corrupt king out of power. Instead of emphasizing power in his life, like Henry IV, Hotspur emphasizes justice and loyalty to what is right.
Hal vs. Falstaff: Falstaff validation of existence seems to be having a good time and doing as little meaningful work as possible. While Hal partially validates his existence through honor (such as when he decides to fight on the side of the king), Falstaff scorns honor as a pointless figment of the human imagination ("Honour is a mere scutcheon" 5.2.139). These contradicting validations lead Falstaff to deceive Hal and for Hal to eventually cast Falstaff out.