Question: 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

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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