Policy reforms increasing the roles of markets in agriculture and related institutional changes are occurring worldwide. These are accompanied by and related to rapid technical change, especially for information systems, biotechnology, and organizational mechanisms. Trends in farm size, integration, concentration, environmental sensitivity, organization and funding of research and development, and multinational business organization are among the observable consequences of these changes. With the evolving role of government, new institutions are emerging for shaping the strategic behavior of public and private sector agents. What are the characteristics of these institutions? Where will strategic behavior and interaction of agents have a critical impact on the performance of agriculture? How will they shape the future of agriculture? What are the implications for policy analysis and the development of the capacities of our profession?