The Fresnel effect is wavelength dependent. It behavior is determined by
the index-of-refraction of the material (taken as a complex value to allow for
attenuation). This effect explains the variation in colors seen in specular regions
particular on metals (conductors). It also explains why most surfaces approximate
mirror reflectors when the light strikes them at a grazing angle.
This version of the equation ignores the polarization of the incoming and reflected rays.