Lecture by professor David Zilberman, who holds the Robinson Chair in the Agricultural and Resource Economics Department at the University of California at Berkeley, USA. About his talk: We developed a conceptual framework appropriate to traditional and modern agriculture, emphasizing the evolution of innovation, a multi-stage supply chain, and non-competitive behavior by intermediaries. We demonstrate our findings with examples – the evolution of the cattle sector, water supply chain, flowers in Kenya, and others – and derive policy implications for developing a more resilient agri-food sector that is up to the challenges of climate change and food security.