The Capital Asset Pricing Model (CAPM) predicts a positive relation between risk and return, but empirical studies find the actual relation to be flat, or even negative. This paper provides a broad overview of explanations for this ‘volatility effect' that have been proposed in different...

Water management steers a middle course between control and chaos. The concept of control in water management is the topic of this paper. Conditions for control in water management are: aconsistent policy, gaining support and an adequate informationsupply. It is demonstrated that the balance...