Combining preference ordering and contingent valuation methods to assess non market benefit of alternative afforestation projects

The application of the contingent valuation method (CVM) in this paper incorporates a prior preference ordering of several alternative future afforestation programmes which could be implemented in Ireland over the next decade. This particular experimental design is thereby shown to reveal the potentially conflicting preferences of different groups within society. These findings are used to devise appropriate CVM scenarios to take account, not only of the efficiency gains of choosing a single policy alternative over others, but also the effects on the distribution of non market benefit between different groups within society, arising from choice between alternatives. (C) 1998 Elsevier Science Ltd. All rights reserved.

Down with MNE-centric theories! Market entry and expansion as the bundling of MNE and local assets

Both Anderson and Gatignon and the Uppsala internationalization model see the initial mode of foreign market entry and subsequent modes of operation as unilaterally determined by multinational enterprises (MNEs) arbitraging control and risk and increasing their commitment as they gain experience in the target market. OLI and internalization models do recognize that foreign market entry requires the bundling of MNE and complementary local assets, which they call location or country-specific advantages, but implicitly assume that those assets are freely accessible to MNEs. In contrast to both of these MNE-centric views, I explicitly consider the transactional characteristics of complementary local assets and model foreign market entry as the optimal assignment of equity between their owners and MNEs. By looking at the relative efficiency of the different markets in which MNE and complementary local assets are traded, and at how these two categories of assets match, I am able to predict whether equity will be held by MNEs or by local firms, or shared between them, and whether MNEs will enter through greenfields, brownfields, or acquisitions. The bundling model I propose has interesting implications for the evolution of the MNE footprint in host countries, and for the reasons behind the emergence of Dragon MNEs.

An Experimental Assessment of the Effects of Stator Vane Tip Clearance and Back Swept Blading on an Automotive Variable Geometry Turbocharger

Off-design performance is of key importance now in the design of automotive turbocharger turbines. Due to automotive drive cycles, a turbine that can extract more energy at high pressure ratios and lower rotational speeds is desirable. Typically a radial turbine provides peak efficiency at U/C values of 0.7, but at high pressure ratios and low rotational speeds, the U/C value will be low and the rotor will experience high values of positive incidence at the inlet. The positive incidence causes high blade loading resulting in additional tip leakage flow in the rotor as well as flow separation on the suction surface of the blade. An experimental assessment has been performed on a scaled automotive VGS (variable geometry system). Three different stator vane positions have been analyzed: minimum, 25%, and maximum flow position. The first tests were to establish whether positioning the endwall clearance on the hub or shroud side of the stator vanes produced a different impact on turbine efficiency. Following this, a back swept rotor was tested to establish the potential gains to be achieved during off-design operation. A single passage CFD model of the test rig was developed and used to provide information on the flow features affecting performance in both the stator vanes and turbine. It was seen that off-design performance was improved by implementing clearance on the hub side of the stator vanes rather than on the shroud side. Through CFD analysis and tests, it was seen that two leakage vortices form, one at the leading edge and one after the spindle of the stator vane. The vortices affect the flow angle at the inlet to the rotor, in the hub region. The flow angle is shifted to more negative values of incidence, which is beneficial at the off-design conditions but detrimental at the design point. The back swept rotor was tested with the hub side stator vane clearance configuration. The efficiency and MFR were increased at the minimum and 25% stator vane position. At the design point, the efficiency and MFR were decreased. The CFD investigation showed that the incidence angle was improved at the off-design conditions for the back swept rotor. This reduction in the positive incidence angle, along with the improvement caused by the stator vane tip leakage flow, reduced flow separation on the suction surface of the rotor. At the design point, both the tip leakage flow of the stator vanes and the back swept blade angle caused flow separation on the pressure surface of the rotor. This resulted in additional blockage at the throat of the rotor reducing MFR and efficiency.