| 초록 |
This paper analyzes the decision making processes of farmers under various risks. Focusing on cucumber greenhouse farmers in the southern part of Korea, risk responsive acreage response functions were estimated under price uncertainty. According to the estimation results, price risk is identified as one of important factors when it comes down to crop selection in vegetable production. A high degree of price risk results in the reaction of avoiding certain crops as it provokes instable income. Therefore when producing outlook information on quantities supplied, risk should be considered as one of exogenous factors in a model. Because price risk is important in farmers' production decision, policy vehicles promoting price stability such as providing outlook information and crop insurance programs to help farmers to keep appropriate cultivation area would be very useful.
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