This article develops the point that incentive and risk-bearing problems associated with contractual holdup may justify legal intervention. Contractual holdup is considered both for fresh contracts and for modifications of contracts. One type of legal intervention is flat voiding of contracts. Such intervention tends to be advantageous when holdup situations are engineered. Another type of inte...

The fluid dynamic (flow rates) and hydrodynamic behavior (local droplet size distributions local holdup) of a continuous DN300 pump-mixer were investigated using water as the phase paraffin oil dispersed phase. influence impeller speed (N = 375 to 425 rpm), feed ratio (φF 10 30 vol.-%), flow rate (V˙tot ≈ 0.5 2.3 L/min) by measuring pumping height, holdup disperse phase, distribution (DSD). lat...

An X-ray visualization technique has been used for the quantitative determination of local liquid holdups distribution and liquid holdup hysteresis in a nonwetting twodimensional (2-D) packed bed. A medical diagnostic X-ray unit has been used to image the local holdups in a 2-D cold model having a random packing of expanded polystyrene beads. An aqueous barium chloride solution was used as a fl...

Steady state multiphase flow models are used for the design and operation of pipelines that are used in the oil and gas industry. The predictions obtained with these models contain uncertainties, which arise from model assumptions and simplifications, and from uncertainties in the input parameters. In this thesis we investigate the effect of uncertainties in the input parameters (such as the wa...

In the present study, the influence of superficial gas velocity and fluid properties on gas holdup and liquid circulation velocity in a three-phase external loop airlift column using polystyrene (0.0036 m diameter and 1025.55 kg/m density) and nylon-6 (0.0035 m diameter and 1084.24 kg/m density) particles with aqueous solutions of alcohols (isoamyl alcohol and propanol) as liquids were investig...

This paper analyzes the problem of …rms that need to make investment decisions in capital markets characterized by trading frictions and ex-post bargaining. Trading frictions make switching from one capital supplier to another costly, thus implying that the match between …rms and suppliers generates surplus. Ex-post bargaining implies that suppliers can appropriate part of this surplus. Firms r...

A 360° twisted helical capacitance sensor was developed for holdup measurement in horizontal two-phase stratified flow. Instead of suppressing nonlinear response, the sensor was optimized in such a way that a 'sine-like' function was displayed on top of the linear function. This concept of design had been implemented and verified in both software and hardware. A good agreement was achieved betw...

Why don’t VCs eliminate excess demand for follow-on funds by raising fees? We propose a model of learning that leads to informational holdup. Current investors learn about skill whereas outside investors observe only returns. This gives current investors holdup power when the VC raises his next fund: Without their backing, no-one will fund him, as outside investors interpret the lack of backing...