Strategic Behavior, Institutional Change, and the Future of Agriculture
Stanley R. Johnson
September 1998 [98-WP 199]
Johnson, S.R. 1998. "Strategic Behavior, Institutional Change, and the Future of Agriculture." Working paper 98-WP 199. Center for Agricultural and Rural Development, Iowa State University.
Policy reforms that increase the roles of markets in agriculture and related institutional changes are occurring worldwide and are accompanied by rapid technical change. With the evolving role of government, new institutions are emerging for shaping the strategic behavior of public and private sector agents. This paper suggests that the use of game theoretic formulations, combined with modern concepts of mechanism design, offers an approach to policy analysis and the study of institutional change that is valuable to professionals involved in the economics of agriculture.