This monograph focuses attention on economic considerations related to infant feeding practices in developing countries. By enlarging on previous methodologies, this paper proposes to improve the accuracy of past estimates of the economic value of human milk, or more specifically, the practice of breastfeeding. The theoretical model employed incorporates (1) health and disease effects and costs, (2) goods costs (foods, materials and implements) and (3) time costs for both artificial feeding and breastfeeding. Terms of the model are extensively discussed. The model is subsequently employed to estimate the relative costs of bottle and breastfeeding in Ghana and the Ivory Coast for both individuals and the nations. In theory, if a mother breastfeeds an infant for two years, the average family in the Ivory Coast would save between US $591 and $723 in goods and time costs. The further savings due to the lower goods and time costs of disease and malnutrition for those who practice breastfeeding would be substantial. Similarly, the average Ghanian family could save between US $591 and $724. Most of the national level calculations attempted were done to illustrate simple analytic methods for achieving rough estimates from inadequate data. Conclusions which could be drawn from this study are limited because it is based almost entirely on preexisting data. Findings of this monograph are intended to encourage further research, promote breastfeeding and prevent the spread of bottle feeding in developing countries. (Author/RH)