Search results for "Holdup"
showing 3 items of 3 documents
How Long-Term Contracts can Mitigate Inefficient Renegotiation Arising Due to Loss Aversion
2021
A loss-averse buyer and seller face an uncertain environment. Should they write a long-term contract or wait until the state of the world is realized? I show that simple long-term contracts perform better than insinuated in Herweg and Schmidt (2015), even though loss aversion makes renegotiation sometimes inefficient. During renegotiation, the outcome induced by the long-term contract constitutes the reference point to which the parties compare gains and losses induced by the renegotiated transaction. Whereas Herweg and Schmidt consider that the long-term contract is always performed, it should not in "bad" states. This alters the threat point in renegotiation, making it easier to renegotia…
Hydrodynamics of a cocurrent downflow of gas and foaming liquid through the packed bed. Part II. Liquid holdup and gas pressure drop
2003
Abstract In the present study the results of experiments have been presented whose aim was to determine the values of liquid holdup as well as gas pressure drop through the packing for systems foaming under the pulse flow regime. On the basis of 245 experimental points for the pulse flow regime the verification of the models describing the hydrodynamics of the system has been performed. Attention was focused on the models of Benkrid et al. (Chem. Eng. Sci. 52 (1997) 4021), Pina et al. (AIChE J. 47 (2001) 19) and Fourar et al. (Chem. Eng. Sci. 56 (2001) 5987). It has been concluded that none of the models analysed describes the hydrodynamics of the foaming systems with enough accuracy. Next,…
Parametric sensitivity of a CFD model concerning the hydrodynamics of trickle-bed reactor (TBR)
2016
Abstract The aim of the present study was to investigate the sensitivity of a multiphase Eulerian CFD model with respect to relations defining drag forces between phases. The mean relative error as well as standard deviation of experimental and computed values of pressure gradient and average liquid holdup were used as validation criteria of the model. Comparative basis for simulations was our own data-base obtained in experiments carried out in a TBR operating at a co-current downward gas and liquid flow. Estimated errors showed that the classical equations of Attou et al. (1999) defining the friction factors Fjk approximate experimental values of hydrodynamic parameters with the best agre…