A local hidden variable theory for the GHZ experiment
  A recent analysis by de Barros and Suppes of experimentally realizable GHZ correlations supports the conclusion that these correlations cannot be explained by introducing local hidden variables. We show, nevertheless, that their analysis does not exclude local hidden variable models in which the inefficiency in the experiment is an effect not only of random errors in the detector equipment, but is also the manifestation of a pre-set, hidden property of the particles ("prism models"). Indeed, we present an explicit prism model for the GHZ scenario; that is, a local hidden variable model entirely compatible with recent GHZ experiments. 
Laszlo E. Szabo and Arthur Fine