The fact that distillation columns, even in the ideal binary case, may display multiple steady states and unstable operating points has only recently been recognized. This article addresses some implications of these phenomena for the operation and control of distillation columns. Under manual operation, the multiplicity and instability will result in inability to reach separations correspondin...

This paper studies the properties of solutions to a log–linearized version of the neoclassical growth model with quasi-geometric discounting. We show that after the log–linearization, the model has indeterminacy and multiplicity of equilibria even though the original non-linear model has a unique interior solution. Specifically, in both the deterministic and stochastic cases, the log–linearized...

Motivated by the need of developing stochastic nonlinear model-based methods to characterize uncertainty for chemical process estimation, control, identification, and experiment design purposes, in this paper the problem of characterizing the global dynamics of single-state nonlinear stochastic system is addressed. An isothermal CSTR with Langmuir-Hinshelwood kinetics is considered as represent...

Joseph E. Stiglitz Stanford University Stanford, CA This paper examines the impact of financial market imperfections on long-tenn productivity growth. It focuses on failures in markets for the sale of equity securities and hence on the failure of markets which help finns diversify the risks of real investment. The paper examines separately situations in which productivity growth is driven by le...

We explore the existence of endogenous fluctuations with a rational bubble and the stabilizing role of fiscal and monetary policies. Consumers’ credit constraints, the role of collateral and a portfolio choice are the key ingredients of our analysis. We consider an overlapping generations model where households realize a portfolio choice between three assets with different returns (capital, mon...

After a preliminary overview of the multiplicity of solutions for the set up and operation of energy conversion systems based on micro-gas turbines, this paper outlines the method for performance evaluation under both steady state and transient conditions. The cycle analysis aims at the evaluation of thermal efficiency and energy saving indices under different fuelling conditions and with varia...

this paper deals with evaluating the thermal behavior of exterior walls in dwellings of a particular place. today, there is a huge increase in constructing multi-storey apartment buildings and single-family houses in the city of yazd, a city with hot dry climate and a rich historical architecture in iran. unfortunately, the new methods that are used nowadays to make the envelopes of these dwell...

Dear Sirs, In a recent series co-workers (see e.g. of papers by Morbidelli and Varma and Morbidelli and Varma 1986a; Morbidelli et al., 1986h Lee and Varma, 1987, 1988; Bauman and Varma 1990), the multiplicity behaviour of a fixed bed reactor is discussed. The basis for this analysis was given by Morbidelli and Varma (1986a) and Morbid& et al. (1986b), where the authors devote many columns to m...

This paper proposes several statistical tests for finite state Markov games to examine the null hypothesis that the data are generated from a single equilibrium. We formulate tests of (i) the conditional choice probabilities, (ii) the steady-state distribution of states and (iii) the conditional distribution of states conditional on an initial state. In a Monte Carlo study we find that the chi-...

The multiplicity, stability and bifurcations of low-Prandtl-number steady natural convection in a two-dimensional rectangular cavity with partially and symmetrically heated vertical walls are studied numerically. The problem represents a simple model of a set-up in which the height of the heating element is less than the height of the molten zone. The calculations are carried out by the global ...