This paper presents a cost benefit analysis of the "Programa de Alimentación Complementaria PNAC”, a large feeding program that has been implemented in Chile for more than ZO years. In the paper, PNAC, is considered like any other investment program, and

Between 1979 and 1999, mortality rates in Chile fell from 6.8 to 5.4 per thousand while infant mortality rates decreased from 75 to 38 per 1000 newborns. This paper presents a methodology to value these reductions on the mortality rates based on a model in which agents choose consumption and...