Subsidised credit, a key component of many programs designed to facilitate rapid adoption of new agricultural technologies in developing countries, has been almost unanimously condemned by economists on both efficiency and equity grounds. This paper argues that such analysis have typically...

Surrogate motherhood is a controversial subject, and has not previously been formally modelled by economists. In this paper, a neoclassical model of the market for surrogate motherhood contracts is developed, based on the utility maximising decisions of potential surrogate mothers and...