The Baeyer-Villiger oxidation reaction converts cyclic ketones to lactones and acyclic ketones to esters using a peroxy acid as the oxidizing agent. Adolf Baeyer and Victor Villiger first reported this reaction in 1899 using menthone and tetrahydrocarvone. The reaction involves the nucleophilic attack of the peroxy acid on the carbonyl carbon, followed by migration of an alkyl group to the oxygen and formation of the ester or lactone product. This reaction has been modified using hydrogen peroxide as the oxidant and various catalysts. It has applications in synthesizing pharmaceuticals, pheromones, and other fine chemicals.