This paper recounts an early attempt to promote the adoption of high-yielding varieties (HYVs) of rice and wheat by small farmers. The instrument was a package not only of inputs, extension advice and supervision, but also - addressing risk aversion - a guaranteed net revenue. The scheme was...

Do 'local' methods of evaluation, such as partial equilibrium analysis at market prices or estimation of shadow prices, provide reliable assessments of a large rural roads programme's social profitability? Consider a small open economy with one city and a rural hinterland, two traded goods, two...