Ep21 "Disentangling Causation and Correlation" with Guido Imbens
All Else Equal: Making Better Decisions
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The Probability That You Pass on the Firm to Your Kids Is Determined by Random Variation
The probability that you pass on the firm to your kids is actually determined by truly random variation. So if the first born child is a boy then the patriarch or the matriarch is much more likely to pass it along. If the first born is a girl then it turns out that they're less likely to do that. That was clear evidence that it's the kids that are screwing the firm up and so nepotism is bad indeed.
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