Besides the extensive press coverage, the B-School has received a large volume of letters and phone calls on the issue. Richard Waters, associate dean for external affairs, said that a little over two-thirds of the mail is unfavorable to the B-School and the course. Fund raising, however, has so far been unaffected by the controversy. "We're responding to alumni letters with the information they want," said Waters. "They're still loyal to the school."

Raiffa reports that his colleagues in the B-School and around the country have been "very supportive." So, too, have his students. Raiffa has a file of letters from former students, including some of those quoted in the Journal article, declaring their support for him and for his class, and their disapproval of Bulkeley's article.

"It is apparent that strategic misrepresentation is to be encountered not only in the business world, but also in the world of journalism," one letter begins. Another, addressed to Fouraker, calls Raiffa "a man whose honesty and compassion earn him the admiration and affection of those who, like myself, are lucky enough to know him."

The Wall Street Journal has also been flooded with letters. Only articles on abortion and gun-control have stirred more controversy, according to Bulkeley and an editor in the Journal's New York office.

The one thing that is clear in all of this controversy is that ethics at the Business School is a very big issue. And clearly one that Howard Raiffa takes quite seriously.

Last year, Raiffa closed the course with these words: "When we see we could improve our profit or further maximize our desired result, we might ask, Is this a 'dirty dollar' or a 'clean one' that we could earn here? What would happen if everybody did this? Would we be able to sleep at night if we did this? How would we feel if we had to explain this to our families?'"

"I hope that in answering these questions," Raiffa told the class, "You will favor the course of action embracing a higher moral standard."

On this point at least, Bulkeley and Raiffa are in complete agreement.