"β-Dicarbonyl compounds such as ethyl 3-oxobutanoate (acetoacetate) and diethyl propanedioate (malonate) are versatile synthetic building blocks for elaborating more complex molecules. Their unusual acidity makes it easy to form the corresponding anions, which can be used in nucleophilic displacement reactions with a wide variety of substrates. Their hydrolysis produces 3-ketoacids that are unstable and undergo decarboxylation on heating."