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Economists have proposed a large variety of models of the oil market and this survey integrates them in a coherent framework.

Sanctions have enormous consequences. Especially when imposed by a country with the economic influence of the United States, sanctions induce clear shockwaves in both the economy and political culture of the targeted state, and in the everyday lives of citizens. But do economic sanctions induce the behavioral changes intended? Do sanctions work in the way they should? To answer these questions, the authors of How Sanctions Work highlight Iran, the most sanctioned country in the world. Comprehensive sanctions are meant to induce uprisings or pressures to change the behavior of the ruling...