Foundations and Trends® in Microeconomics

Volume 10, issue 4

Environmental Enforcement and Compliance: Lessons from Pollution, Safety, and Tax Settings

Environmental monitoring and enforcement are controversial and incompletely understood. This survey reviews what we do and do not know about the overall effectiveness, as well as the cost effectiveness, of pollution monitoring and enforcement. We ask five key questions: what do environmental monitor...
Volume 10, issue 3

Trust and Reciprocity

This survey explores the contributions of behavioral economics, laboratory experiments, and field experiments to our understanding of the economics of trust, trustworthiness, and reciprocal behavior. A general summary presenting the evolution of trust and reciprocity, departing from pure self-intere...
Volume 10, issue 2

Water and Economy-Wide Policy Interventions

Water is a limiting factor for sustainable economic growth and development in many countries. Its allocation has significant impacts on overall economic efficiency, particularly with growing physical scarcity in certain regions. Water also has become a strategic resource, involving conflicts among t...
Volume 10, issue 1

The Organization of the Oil Industry, Past and Present

For several decades, petroleum has been a commodity of vital importance to the global economy, in which a number of interesting market phenomena has occurred. This monograph represents my efforts to describe several of these phenomenon, along with a few other elements of the oil market. My focus is