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Overcoming Bias Commenter's avatar

Babies weren't assets per se but the potential to become assets. Historically children went to work as soon as they were able thus minimising the costs of childrearing. However there's something to said about ye olde parents not being obliged to raise their own children at all. In other words, child abandonment was quite acceptable until the modern era even if though the child would most likely perish. Then again, I heard an anecdote where some time in Ancient Rome a child had no expectation to their parent's assets and adults would choose any child (who showed promise) from the general populance and groom them to take over their business dealings.

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gwern's avatar

Turns out I did have it saved in Evernote (handy service for this sort of thing); the OB mention of the Brazil study was http://www.overcomingbias.c... and the PDF link was http://ipl.econ.duke.edu/br...

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