In the past few years, increasing attention has been given to the methods by which investments in developing countries should be appraised. Benefitcost analyses, based on market prices and costs, do not indicate whether an investment would be profitable from a social point of view. The methods...

Pakistan, like any developing country, must regularly divert some of the searce agFicultural land to an alternative use-to another crop, to a site for a reservoir or a plant for processing agrjculture's output, or to industrial, commercial or housing purposes. This paper is an exercise in...