Three concepts: stochastic discount factors, multi-beta pricing and mean-variance efficiency, are at the core of modern empirical asset pricing. This chapter reviews these paradigms and the relations among them, concentrating on conditional asset-pricing models where lagged variables serve as...

In recent years, the International Monetary Fund has seen a spate of critical analyses of its lending activities. It has even been suggested that politics influences the allocation of IMF lending with powerful industrialized countries being able to use Fund lending to further their own...

In 1996, the Danish government launched an ambitious energy plan, Energy 21, describing a way to develop the energy sector in a more sustainable direction. Wind power plays an important role in the plan, and as a consequence there will be a very high penetration of wind energy in the electricity...

Construction time performance is provoking world-wide concern and discussion within the industry. This paper reports the results of a survey in the fourth stage of an investigation seeking to identify a set of significant variables influencing construction durations of projects in Hong Kong, the...

In 1996, the Danish government launched an ambitious energy plan, Energy 21, describing a way to develop the energy sector in a more sustainable direction. Wind power plays an important role in the plan, and as a consequence there will be a very high penetration of wind energy in the electricity...

Higher education teachers are often curious whether students will be successful or not. Before or during a course they try to estimate the percentage of successful students. But is it possible to predict the success rate of students enrolled in their course? Are there any specific student...