A seller can make investments that affect a tradable asset’s future returns. The potential buyer of the asset cannot observe the seller’s investment prior to trade, nor does he receive any signal of it, nor can he verify it in anyway after trade. Despite this severe moral hazard problem, this paper shows the seller will invest with positive probability in equilibrium and that trade will occur w...

T complexity and scope of outsourced information technology (IT) demands relationship-specific investments from vendors, which, when combined with contract incompleteness, may result in underinvestment and inefficient bargaining, referred to as the holdup problem. Using a unique data set of over 100 IT outsourcing contracts, we examine whether contract extensiveness, i.e., the extent to which f...

the main objective of this paper is to examine the effect of nanomaterials on mass transfer coefficient in bubble type absorption of carbon dioxide by experiment. the absorption process is carried out in a bubble column and in room temperature. mass transfer coefficient, saturated concentration of co2, and gas holdup are determined in this system. the kinds of nanomaterials, the concentrations ...

in this paper, we studied effect of different parameters including density, viscosity, interfacial tension and solute transfer concentration on phase inversion hold-up. the results showed that change in phase density ratio had no effect on phase inversion hold-up. it also disclosed that the phase viscosity ratio was the most effective parameter affecting phase inversion hold-up and each phase h...

Food-grade microemulsions containing oleic acid, ethanol, Tween 20, and water were formulated as a carrier system for tea seed oil (Camellia oleifera Abel.). The effect of ethanol on the phase behavior of the microemulsion system was clearly reflected in pseudo-ternary diagrams. The solubilization capacity and solubilization efficiency of tea seed oil dispersions were measured along the dilutio...

A population balance model is considered for the description of mass transfer in liquidliquid dispersions in a mechanically agitated vessel operated continuously. The dispersions considered are of low dispersed phase fraction in which coalescence processes may be assumed to be negligible. The model incorporates the dynamic nature of breakage processes among the droplet population together with ...

We present an experimental study of a new regime of monodisperse micro–droplet generation that we named the balloon regime. A dispersion of oil in water in a T–junction microfluidic system was studied. Several microfluidic devices having different cross– sections of the continuous and the dispersed phases micro–channels were tested. This new regime appears only for low dispersed phase velocity....

Microfluidic droplet formation at a T-junction in the jetting regime was studied theoretically and an analytical force balance model was proposed to predict the diameter of droplets. The forces governing droplet production in the jetting regime include the shear, interfacial tension, linear momentum and inertial forces. Experiments were carried with non-Newtonian xanthan gum solutions as the di...

background: the dispersed phase volume fraction plays key role in oil-in-water emulsion stability by different mechanisms like partial flocculation, depletion flocculation and bridging flocculation. since the mentioned mechanism is affected by emulsifier concentration presented in system, the major aim of this study was to investigate the effect of dispersed phase volume fraction on physical st...

Effective control of phase growth under harsh conditions (such as high temperature, highly conductive liquids or high growth rate), where surfactants are unstable or ineffective, is still a long-standing challenge. Here we show a general approach for rapid control of diffusional growth through nanoparticle self-assembly on the fast-growing phase during cooling. After phase nucleation, the nanop...