The author mentions that goodwill was probably excluded from the probate valuation of a business in nineteenth–centur...

Ellisw23 on April 4 at 12:13AM

Why b and not c?

Why b and not c?

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Emil-Kunkin on April 23 at 12:10AM

The discussion of goodwill in the end of the second paragraph tells us that this is another reason that probate values may not be accurate. However the author then tells us that we should look into the goodwill undervaluation and see if it introduces any systematic biases. This tells us that we are not sure whether this issue had a systematic impact, if it impacted all business the same or some sectors more than others.

This is a strong argument against C, because the author did not think that it impacted the businesses all equally.