The analysis of the Texaco-Pennzoil example shows that the EMV of counter offering with $5 billion far

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The analysis of the Texaco-Pennzoil example shows that the EMV of counter offering with $5 billion far exceeds $2 billion. Why might Liedtke want to accept the $2 billion anyway? If you were Liedtke, what is the smallest offer from Texaco that you would accept?
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Making Hard Decisions with decision tools

ISBN: 978-0538797573

3rd edition

Authors: Robert Clemen, Terence Reilly

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