What is the criteria for oldest when merging constituents using the constituent merge process

When merging constituents using the constituent merge process you are able to set the target constituent criteria to oldest which will merge any new duplicate constituent records to the oldest constituent. 
The constituent merge process will use the DATEADDED for both the constituent and revenue records to determine the oldest constituent. 

Environment

 Blackbaud CRM
 4.0
 4.0.166.0

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