Sex, Lies, and the Hillblom Estate: A Decision Analysis

Authors:
Steven A. Lippman;Kevin F. McCardle
Affiliations:
Anderson Graduate School of Management, University of California, Los Angeles, 110 Westwood Plaza, Box 951481, Los Angeles, California 90095-1481;Anderson Graduate School of Management, University of California, Los Angeles, 110 Westwood Plaza, Box 951481, Los Angeles, California 90095-1481
Venue:
Decision Analysis
Year:
2004

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Abstract

We present three approaches to evaluating a publicly detailed, high-stakes, high-risk decision made by an heir-claimant to the estate of Larry Hillblom. The first two approaches are standard: a decision tree focusing on risk aversion and a multiperiod consumption model that highlights the effects of forgone consumption. In the third approach, we embed several Nash bargaining games into the decision tree developed in the first approach.