Question: Liedtke is not operating by himself in the Texaco - Penzoil case; he must report to a board of directors. Table 1 3 . 6

Liedtke is not operating by himself in the Texaco-Penzoil case; he must report to a board of directors. Table 13.6 gives utility functions for three different directors. Draw graphs of these. How would you classify each director in terms of his or her attitude toward risk? What would be the strategies of each? (That is, what would each one do with respect to Texaco's current offer, and how would each react to a Texaco counteroffer of $3 billion? To answer this question, you must solver the decision tree-calculate expected utilities- for each director.)

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