Renewable natural capital — terrestrial and marine ecosystems, fisheries, biodiversity, and groundwater — is in decline around the world affecting livelihoods of millions of people. Natural capital market design uses economic theory and analysis to develop practical solutions for...

Market design seeks to translate economic theory and analysis into practical solutions to real-world problems. By redesigning both the rules that guide market transactions and the infrastructure that enables those transactions to take place, market designers can address a broad range of market...

We show how frictions and continuous transfers jointly affect equilibria in a model of matching in trading networks. Our model incorporates distortionary frictions such as transaction taxes, bargaining costs, and incomplete markets. When contracts are fully substitutable for firms, competitive...