In 2005, the University of Chicago office of the investment was deciding how much capital to allocate timber investment. Explores issues related to the optimal design of the portfolio, when one of the investment is illiquid with limited historical data, the transaction price. "Hide
by Peter Hecht, David Mace Source: Harvard Business School 12 pages. Publication Date: April 28, 2005. Prod. #: 205101-PDF-ENG