Publisher's Synopsis
This volume contains five pairs of specially commissioned essays surveying - at a level accessible to the general economist - some of the most important and rapidly growing areas of the economics of uncertainty. The chapters are arranged in matched pairs, the first of each being a statement of recent theoretical findings in each field, and the second providing an overview of the policy and/or empirical implications of that field.;The first pair of chapters looks at the foundations of decision-making under uncertainty; the second at the vitally important principal/agent theory which has provided much insight into economic phenomena. The third pair overviews search theory, one of the most significant developments of the last decade, while the fourth pair surveys the theory of contracts, which is likely to prove one of the most important research areas of the present decade. The final pair of chapters examines the economics of tax evasion, both theoretically and empirically.;The volume is aimed at postgraduate students and researchers in the field of microeconomics.
