Opt-out options in new product co-development partnerships

We study three contractual arrangements—co-development, licensing, and co-development with opt-out options—for the joint development of new products between a small and financially constrained innovator firm and a large technology company, as in the case of a biotech innovator and a major pharma company. We formulate our arguments in the context of a two-stage model, characterized by technical risk and stochastically changing cost and revenue projections. The model captures the main disadvantages of traditional co-development and licensing arrangements: in co-development the small firm runs a risk of running out of capital as future costs rise, while licensing for milestone and royalty (M&R) payments, which eliminates the latter risk, introduces inefficiency, as profitable projects might be abandoned. Counter to intuition we show that the biotech's payoff in a licensing contract is not monotonically increasing in the M&R terms. We also show that an option clause in a co-development contract that gives the small firm the right but not the obligation to opt out of co-development and into a pre-agreed licensing arrangement avoids the problems associated with fully committed co-development or licensing: the probability that the small firm will run out of capital is greatly reduced or completely eliminated and profitable projects are never abandoned.

Characterisation and fluidisation of synthetic pit latrine sludge

Half of the world’s urban population will live in informal settlements or “slums” by 2030. Affordable urban sanitation presents a unique set of challenges as the lack of space and resources to construct new latrines makes the de-sludging of existing pits necessary and is something that is currently done manually with significant associated health risks. Therefore various mechanised technologies have been developed to facilitate pit emptying, with the majority using a vacuum system to remove material from the top of the pit. However, this results in the gradual accumulation of unpumpable sludge in the pit, which eventually fills the latrine and forces it to be abandoned. This study has developed a method for fluidising unpumpable pit latrine sludge, based on laboratory experiments using a harmless synthetic sludge. Such a sludge consisting of clay and compost was developed to replicate the physical characteristics of pit latrine sludges characterised in Botswana during the 1980s. Undrained shear strength and density are identified as the critical parameters in controlling pumpability and a method of sludge characterisation based on these parameters is reported. In a series of fluidisation tests using a one fifth scale pit emptying device the reduction in sludge shear strength was found to be caused by i) dilution, which increases water content, and ii) remoulding, which involves mechanical agitation to break down the structure of the material. The tests demonstrated that even the strongest of sludges could be rendered “pumpable” by sufficient dilution. Additionally, air injection alone produced a three-fold decrease in strength of consolidated samples as a result of remoulding at constant water content. The implications for sludge treatment and disposal are discussed, and the classification of sludges according to the equipment required to remove them from the latrine is proposed. Possible field tests to estimate sludge density and shear strength are suggested. The feasibility of using low cost vacuum cleaners to replace expensive vane pumps is demonstrated. This offers great potential for the development of affordable pit emptying technologies that can remove significantly stronger sludges than current devices through fluidising the wastes at the bottom of the pit before emptying

Large-eddy simulation of complex geometry jets

Computations are made for chevron and coflowing jet nozzles. The latter has a bypass ratio of 6:1. Also, unlike the chevron nozzle, the core flow is heated, making the inlet conditions reminiscent of those for a real engine. A large-eddy resolving approach is used with circa 12 × 10 6 cell meshes. Because the codes being used tend toward being dissipative the subgrid scale model is abandoned, giving what can be termed numerical large-eddy simulation. To overcome near-wall modeling problems a hybrid numerical large-eddy simulation-Reynolds-averaged Navier-Stokes related method is used. For y + ≤ 60 a Reynolds-averaged Navier-Stokes model is used. Blending between the two regions makes use of the differential Hamilton-Jabobi equation, an extension of the eikonal equation. For both nozzles, results show encouraging agreement with measurements of other workers. The eikonal equation is also used for ray tracing to explore the effect of the mean flow on acoustic ray trajectories, thus yielding a coherent solution strategy. © 2011 by Cambridge University.

Large eddy simulation of a hot, high speed coflowing jet

Computations are made of a short cowl coflowing jet nozzle with a bypass ratio 8 : 1. The core flow is heated, making the inlet conditions reminiscent of those for a real engine. A large eddy resolving approach is used with a 12 × 106 cell mesh. Since the code being used tends towards being dissipative the sub-grid scale (SGS) model is abandoned giving what can be termed Numerical Large Eddy Simulation (NLES). To overcome near wall modelling problems a hybrid NLES-RANS (Reynolds Averaged Navier-Stokes) related method is used. For y+ ≤ 60 a κ-l model is used. Blending between the two regions makes use of the differential Hamilton-Jabobi (HJ) equation, an extension of the eikonal equation. Results show encouraging agreement with existing measurements of other workers. The eikonal equation is also used for acoustic ray tracing to explore the effect of the mean flow on acoustic ray trajectories, thus yielding a coherent solution strategy. Copyright © 2011 by ASME.

Characterisation and fluidisation of synthetic pit latrine sludge

Half of the world's urban population will live in informal settlements or ‘slums’ by 2030. Affordable urban sanitation presents a unique set of challenges as the lack of space and resources to construct new latrines makes the de-sludging of existing pits necessary and is something that is currently done manually with significant associated health risks. Various mechanised technologies have therefore been developed to facilitate pit emptying, with the majority using a vacuum system to remove material from the top of the pit. However, this results in the gradual accumulation of unpumpable sludge at the bottom of the pit, which eventually fills the latrine and forces it to be abandoned. This study has developed a method for fluidising unpumpable pit latrine sludge, based on laboratory experiments using a harmless synthetic sludge. The implications for sludge treatment and disposal are discussed, and the classification of sludges according to the equipment required to remove them from the latrine is proposed. Finally, further work is suggested, including the ongoing development of a device to physically characterise latrine sludge in-situ within the pit.