Abstract
Constantly increasing uncertainty augments the risk of business companies and stipulates the necessity of risk management. Existing risk management models have many disadvantages, so the challenge for the future is to combine theory-based and empirically proven models in a way that would allow companies to manage supply risk. The purpose of this paper is to assess the impact of partners’ opportunistic behavior on farming results in short food supply chain using transaction cost approach. The comparative analysis and generalization was employed to describe possibilities to manage risk in agriculture, whereas interview and regression analysis was used to assess farmers’ losses due to opportunistic behavior of partners. JEL codes: D23, G32.
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