Gas holdup along with the superficial gas velocity was systematically investigated in a lab-scale bubble column. The experiments were conducted in a bubble column with a height of 6 m at superficial gas velocity of 0.01 - 0.13 m/s. Experimental results show that dynamic equilibrium region was...

We propose an extension of the class of rational expectations bubbles (REBs) to the more general rational beliefs setting of Kurz (1994a,b). In a potentially non-stationary but stationarizable environment, it is possible to hold more than one (small-r) “rational” expectation. When rational...