This research uses laboratory experiments to test alternative water market institutions designed to protect third-party interests. The institutions tested include taxing mechanisms that raise revenue to compensate affected third-parties, and a free market in which third-parties actively...

This book explores frontier work at the intersection of experimental and environmental economics, with cutting edge research provided by premier scholars in the field. The book begins by focusing on improving benefit–cost analysis, which remains the hallmark of public policy...

It is well known in evolutionary game theory that population clustering in Prisoner's Dilemma games allows some cooperative strategies to invade populations of stable defecting strategies. We adapt this idea of population clustering to a two-person trust game. Without knowing it, players are...