Books in the Foundations and Trends (R) in Microeconomics series

Reviews what economists do and do not know about the effectiveness and cost effectiveness of pollution monitoring and enforcement. The focus is mainly on lessons for and from the US policy environment, but discusses important research findings from international settings as well.

The purpose of this volume is to explain how semicollusion works in theory, describe empirical studies of semicollusion, and discuss the possible welfare effects of semicollusion. The volume provides a framework for understanding the mechanism at work with semicollusion and reviews the different approaches in the literature to this topic.

Demonstrates that emotions play a role in predicting departures from expected utility maximization for making insurance purchasing decisions over time. The authors highlight the conceptual issues and alternative theories of behaviour about repeat insurance purchasing over time.

Focuses on the creation of good jobs for the young. The book reviews the main factors influencing youth unemployment and the transition into the work force, and provides an overview of young people's situations in major world regions, with a particular emphasis on the role of training systems and complementary active labour market policies.

Analyses and compares the policy responses in the United Kingdom and the United States to the mad cow disease crisis. The book draws a number of lessons from the mad cow experience regarding how one should regulate invasive species risks and deal with dimly understood but potentially serious risks to large populations.

Explores policy interventions aimed at improving water allocation decisions and assesses the impact on regions and sectors by including both macro and micro considerations in a unified analytical framework.

Explores the contributions of behavioral economics, laboratory experiments, and field experiments to our understanding of the economics of trust, trustworthiness, and reciprocal behavior. This monograph concludes with a summary of theory and experiments that have identified trust and reciprocity in economics and human behaviour.