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Journal of Integrative Agriculture  2021, Vol. 20 Issue (12): 3323-3338    DOI: 10.1016/S2095-3119(21)63749-8
Special Issue: 农业经济与管理合辑Agricultural Economics and Management
Agricultural Economics and Management Advanced Online Publication | Current Issue | Archive | Adv Search |
The impact of farmers’ assessments of risk management strategies on their adoption willingness
College of Economics and Management, Huazhong Agricultural University, Wuhan 430070, P.R.China
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Farmers’ assessments of risk management strategies and how the assessments influence their willingness to adopt these strategies are poorly understood.  This study conducts a structured survey of 469 farmers to investigate how farmers assess both crop insurance and crop price insurance, the impact of the assessments on their adoption willingness, and in particular, the differences in assessments and adoption willingness between crop insurance and crop price insurance.  Empirical results show that farmers’ assessments on crop insurance can be significantly improved through communication and experience.  The most effective way to improve farmers’ assessments on crop price insurance is providing adequate information about the insurance products.  Furthermore, farmers’ adoption willingness would be enhanced by improved assessment of both crop yield and crop price insurance.  This study provides the first empirical evidence that farmers have limited information to assess insurance, which significantly influences their willingness to adopt.  This finding reflects that the dissemination of insurance policies, the effectiveness of insurance, and the availability of insurance services significantly enable farmers’ ability to assess risk management strategies, which potentially increases farmers’ willingness to adopt insurance.  
Keywords:  assessments       adoption willingness        crop insurance        crop price insurance        protection motivation theory (PMT)  
Received: 10 November 2020   Accepted:
Fund: This work was supported by the National Natural Science Foundation of China (72171099, 71771101 and 71673103) and the Fundamental Research Funds for the Central Universities, China (2662020JGPYR04).
Corresponding Authors:  Correspondence XIONG Tao, E-mail:   
About author:  SHANG Yan, E-mail:;

Cite this article: 

SHANG Yan, XIONG Tao. 2021. The impact of farmers’ assessments of risk management strategies on their adoption willingness. Journal of Integrative Agriculture, 20(12): 3323-3338.

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