The objectives of this paper is to study the role of the information under uncertainty for decision making. So, I constructed the equation of management behavior from the maximization hypothesis of expected utility. There exists management behavior for risk lover and averter. Therefore, the management performs the decision making for the production schedule with the price setting increased or decreased by the risk profit or loss under uncertainty. The managers' decision makings of optimum production shedules change due to their expected prices which are in fluenced by the price infomations.
Studying the effects whih the information gives to the managemnet behavior in the case of dairy farming, the followings are found:
a. Price informations of purchased feeds determine the production structure of self-supplied forages, provided that self-supplied forages' production proceeds basically toward the direction of the decreasing of marginal cost by the “ratchet effect” not-with-standing the level of the price informations for purchased feeds in order to keep the economic surplus.
b. The milk production schedule is determined toward the increasing direction in the case of the high cost for milk price informations. But, if the information of purchased feed price contained in the total feed price is high cost the optimum milk production is decreased in the short term. In a long term, however, it is thought that the optimum milk production will increase by the “ratchet effect” of self-suppled forages.