VITA

David A. Hennessy

August 1997

Work Address: Home Address:

Department of Economics 1106 Burnett

478B Heady Hall Ames, IA 50010

Iowa State University (515) 232-2757

Ames, IA 50011-1070

(515) 294-6171

EDUCATION

Ph.D. Economics with major in Agricultural Economics, Iowa State University, December 1993.

GPA=3.93.

M.S. Agriculture with major in Agricultural Economics, University College Dublin, Ireland,

October 1989.

B.S. Agriculture with major in Agri-business, University College Dublin, Ireland, July 1987.

EMPLOYMENT

August 1996 - Assistant Professor, Iowa State University. Industrial structure of agriculture, present agricultural finance, policy analysis, agricultural production.

November 1993 - Agricultural Economist & Assistant Professor, Washington State University (60% August 1996 research-40% teaching). Production economics, industrial structure of agriculture, agricultural finance, policy analysis.

September 1993 - Post-Doctoral Research Associate, Iowa State University. Agricultural policy, November 1993 agricultural finance.

August 1989 - Research Assistant, Iowa State University. Agricultural trade, agricultural

September 1993 production, agricultural finance, agricultural policy.

June 1988 - Research Associate, Irish Agricultural Research Institute, Dublin, Ireland and August 1989 and Saint Patrick's College, Maynooth, National University of Ireland. Built an econometric model of Irish agricultural production, studied the economics of introducing BST, studied the relationships between demography and economic activity in rural Ireland.

September 1987 - Research Demonstrator, Faculty of Agriculture, University College Dublin,

June 1988 Ireland.

Summers, 1986 Laboratory Technician with Minch Norton, New Ross, Ireland, a malting barley and 1987 elevator company.

PROFESSIONAL AFFILIATIONS

American Agricultural Economics Association

Western Agricultural Economics Association

American Economics Association

Western Economics Association International

Subscriber to RAND Journal of Economics

HONORS

Phi Kappa Phi Academic Honor Society.

Gamma Sigma Delta Academic Honor Society in Agriculture.

Earl O. Heady Award for Academic Excellence in Agricultural Economics, Iowa State University 1989.

Western Agricultural Economics Association 1995 award winner for Outstanding Published Research.

PERSONAL

Grew up on a mixed livestock (grazed cattle, sheep, and horses) and tillage (barley, winter wheat, and sugarbeet) farm at New Ross, Ireland. Recreational activities include running, reading, and current affairs.

Date of Birth: August 15, 1965.

Status: U.S. Permanent Resident (Green Card).

TEACHING, ADVISING, AND SERVICE

Teaching:

Fall 1997 Teaching Econ. 432, a Senior level course entitled Agribusiness Management. (1 course).

Spring 1997 Taught Econ. 542, a graduate level course entitled Agricultural Commodity Market Analysis. (1 course).

Fall 1996 Taught Econ. 432, a Senior level course entitled Agribusiness Management. (1 course).

Spring 1996 Taught a Ph.D. level course entitled Agricultural Demand and Supply Systems. (1 course).

Taught parts of a 400 level course entitled Advanced farm and Ranch Management.

Spring 1995 Taught a Ph.D. level course entitled Agricultural Decision Analysis. (1 course).

Taught the production module of a Ph.D. level course entitled Agricultural Demand and Supply Systems. (½ course).

Spring 1994 Taught the production module of a Ph.D. level course entitled Agricultural Demand and Supply Systems. (½ course).

Advising:

Supervisor of two Ph.D. students, and one Masters student.

Service: (at Iowa State)

Member of recruiting committee for Agricultural Economics positions (1997-'98).

(at Washington State)

Standing member of Ph.D. theory qualifying exam committee (served four times).

Member of Resource Economist position search committee (1995).

Internal reviewer of extension bulletins.

GRANTS AND CONTRACTS

Stockle, Claudio, David A. Hennessy, Douglas L. Young, and Walter R. Butcher. "Computer-Assisted Evaluation of Productivity and Environmental Impact of Farming Practices: A Risk Assessment Approach for Sustainable Agriculture." STEEP II program, $21,000, 1994-1995.

Hennessy, David A. "A Farm-Level Assessment of the Impact of Revenue Assurance Contracts on Producer Welfare and Government Costs." Subcontract from Iowa State University, $13,225, 1995.

Schreiber, Alan, Jay F. Brunner, David A. Hennessy, Vicki A. McCracken, David Rosenberger, and Jeff Derr. "Biologic and Economic Assessment of the Use of Pesticides on United States Apples." Contract from the United States Department of Agriculture, $50,000, 1995-1997.

Schreiber, Alan, and David A. Hennessy. "Establishing Confidence in Expert Opinion in Pesticide Benefit Assessments." Contract from the United States Department of Agriculture PIAP Division, $15,000, 1995-1997.

OTHER PROFESSIONAL EXPERIENCE

Member of the NE-165 (revised) regional research project entitled Private Strategies, Public Policies, and Food System Performance.

Reviewer for the American Journal of Agricultural Economics, the Journal of Agricultural and Resource Economics, the Journal of Environmental Economics and Management, Agricultural Economics, the Journal of Production Agriculture, and the Review of International Economics.

Reviewer for papers presented at the meetings of the American Agricultural Economics Association, and the Western Agricultural Economics Association.

Participant in Iowa State University Road Scholar program (Fall 1996).

Performed consultancy work for the Irish Meat Export Promotion Board on EC sheepmeat policy, and Irish cattle disposal seasonality (1988-'89).

REFEREED PUBLICATIONS

Hennessy, David A. "The Production Effects of Coupled and Decoupled Agricultural Income Support Policies." American Journal of Agricultural Economics, forthcoming.

Hennessy, David A. "The Short- and Long-Run Comparative Statics of Uncertainty." Economics Letters, forthcoming.

Hennessy, David A. "Stochastic Technologies and the Adoption Decision." Journal of Development Economics, forthcoming.

Hennessy, David A. "Technology Adoption and Welfare Under a Monopoly: An Illustration of Microeconomic Policy Analysis." Journal of Economic Education, forthcoming.

Hennessy, David A., Bruce A. Babcock, and Dermot J. Hayes. "The Budgetary and Resource Allocation Effects of Revenue Assurance." American Journal of Agricultural Economics, forthcoming.

Hennessy, David A. "Equilibrium in Production and Futures Markets." Journal of Economics and Business, forthcoming.

Hennessy, David A. "Damage Control and Increasing Returns: Further Results." American Journal of Agricultural Economics, forthcoming.

Hennessy, David A., and Thomas I. Wahl. "An Analysis of Grain Cleaning and Commingling Decisions." American Journal of Agricultural Economics, forthcoming.

Hennessy, David A. "Equilibrium Analysis of a Quota Regulated Market." Canadian Journal of Agricultural Economics, 45(March 1997):69-82.

Hennessy, David A. "The Ricardian Rent and the Allocation of Land Under Uncertainty: Comment." European Review of Agricultural Economics, 24 (1997):313-317.

Hennessy, David A. "Information Asymmetry as a Reason for Food Industry Vertical Integration." American Journal of Agricultural Economics, 78(November 1996):1034-1043.

Hennessy, David A., and Thomas I. Wahl. "The Effects of Decisionmaking on Futures Price Volatility." American Journal of Agricultural Economics, 78(August 1996):591-603.

Devadoss, Stephen, and David A. Hennessy. "Differing Degrees of Price Flexibilities and the Policy Ineffectiveness Proposition." Applied Economics, 28(1996):1059-1065.

Hennessy, David A. "The Economics of Purifying and Blending." Southern Economic Journal, 63(July 1996):223-232.

Babcock, Bruce, A., and David A. Hennessy. "Input Demand under Yield and Revenue Insurance." American Journal of Agricultural Economics, 78(May 1996):416-427.

Hennessy, David A. "Microeconomics of Agricultural Grading: Impacts on the Marketing Channel." American Journal of Agricultural Economics, 77(November 1995):980-989.

Hennessy, David A., and Stephen Devadoss. "Quality Premiums and the Competitive Firm's Production Decision." Southern Economic Journal, 62(July 1995):107-115.

Hennessy, David A. "Quotas, Alternative Technologies, and Immiserization." Canadian Journal of Agricultural Economics, 43(July 1995):203-208.

Hennessy, David A. Applications of Contingent Claims Theory to Microeconomic Problems. Monograph, Center for Agricultural and Rural Development, Iowa State University, 1995.

PAPERS UNDER SECOND OR SUBSEQUENT REVIEW

Hennessy, David A. "Industry Equilibrium Under Price Distribution and Cost Shifts." Submitted to Journal of Economics and Business. Is under second review.

Hennessy, David A., and Jutta Roosen. "Transfer Assessments and Efficiency in Quota-Regulated Markets." Submitted to Canadian Journal of Agricultural Economics. Is under second review.

PAPERS UNDER FIRST REVIEW

Hennessy, David A. "Protecting Quality in Sequential Production Processes." Submitted to Economic Journal.

. Hennessy, David A. "Inequalities for Composite Functions on a Lattice." Submitted to Journal of Mathematical Analysis and Applications.

. Hennessy, David A., and Bruce A. Babcock. "The Effects of Information on Input Use." Submitted to International Review of Economics and Finance.

. Hennessy, David A. "Risk Market Innovations and Choice." Submitted to International Review of Economics and Finance.

Hennessy, David A. "Input Decisions and Price-Quality Schedules." Submitted to Southern Economic Journal.

Moschini, Giancarlo, and David A. Hennessy. "Risk, Risk Attitudes and Risk Management Alternatives--Private and Public." Book chapter to be written for Handbook of Agricultural Economics, Gardner, Bruce L. and Gordon C. Rausser eds.

WORKING PAPERS

Roosen, Jutta, David A. Hennessy, Sean A. Fox, and A. Alan Schreiber. "An Experimental Analysis of Willingness to Pay for Pesticide-Free and Cosmetically Impaired Apples." To be submitted to American Journal of Agricultural Economics.

Hennessy, David A., and John D. Lawrence. "Contractual Relations, Control, and Quality in the Hog Sector." To be submitted to Review of Agricultural Economics.

Hennessy, David A., and Sean A. Fox. "Control Point Interventions in Ensuring Product Quality." To be submitted to American Journal of Agricultural Economics.

Hennessy, David A., and Harvey E. Lapan. "The Arrangement Increasing Order and the Microeconomics of Covariation." Outlet not decided yet.

Mittelhammer, Ron C., and David A. Hennessy. "Biases in Aggregated Dual Analyses Induced by Sharecropping Contracts." Outlet not decided yet.

Hennessy, David A. "On the Parametric Specification of Production Contracts." (Preliminary) Outlet not decided yet.

Hennessy, David A., and Ron C. Mittelhammer. "Decisions and Compensation for Policy-Induced Changes in Risk." (Preliminary) Outlet not decided yet.

Hennessy, David A. "Environmental Regulation and Efficiency in the Production of Confined Animals." (Preliminary) Outlet not decided yet.

Hennessy, David A. "On Modeling Futures Markets with Production Risk: Comment." (Preliminary) Outlet not decided yet.

Hennessy, David A., and Jutta Roosen. "On Bounds for Option Prices." (Preliminary) Outlet not decided yet.

Hennessy, David A. "Distribution-Free Arbitrage for Contingent Claims." (Preliminary) Outlet not decided yet.

ABSTRACTS

Hennessy, David A., and Ron C. Mittelhammer. "Dual Technology Estimation Biases Induced by Sharecropping Contracts." Selected paper, AAEA annual meeting, Toronto, Ontario, July 1997, American Journal of Agricultural Economics, 79(December 1997).

Roosen, Jutta, and David A. Hennessy. "Transfer Assessments and Efficiency in Quota-Regulated Markets." Selected paper, AAEA annual meeting, Toronto, Ontario, July 1997, American Journal of Agricultural Economics, 79(December 1997).

Hennessy, David A. "Damage Control and the Concavity Assumption." Selected paper, AAEA annual meeting, San Antonio, Texas, July 1996, American Journal of Agricultural Economics, 78(December 1996).

Fiez, Timothy E., David A. Hennessy, and Bruce A. Babcock. "Site-Specific Management: An Economic and Empirical Analysis." Selected paper, AAEA annual meeting, San Antonio, Texas, July 1996, American Journal of Agricultural Economics, 78(December 1996).

Wei, Wei, Douglas L. Young, and David A. Hennessy. "Deterministic Dynamic Weed management Models: Steady State Solutions." Selected paper, AAEA annual meeting, San Antonio, Texas, July 1996, American Journal of Agricultural Economics, 78(December 1996).

Hennessy, David A. "Valuation of Land Lease Contracts." Selected paper, AAEA annual meeting, Indianapolis, Indiana, August 1995, American Journal of Agricultural Economics, 77(December 1995):1366.

Hennessy, David A. "The Cost of Supporting U.S. Agriculture." Selected paper, AAEA annual meeting, San Diego, California, August 1994, American Journal of Agricultural Economics, 76(December 1994):1250.

Hayes, Dermot J., and David A. Hennessy. "Government Costs of Target Price Supports." Selected paper, AAEA annual meeting, San Diego, California, August 1994, American Journal of Agricultural Economics, 76(December 1994):1270.

Hennessy, David A., and Dermot J. Hayes. "Are Options Markets Optimal?" Selected paper, AAEA annual meeting, Orlando, Florida, August 1993, American Journal of Agricultural Economics, 75(December 1993):1311.

MISCELLANEOUS PUBLICATIONS

Hennessy, David A., Bruce A. Babcock, and Dermot J. Hayes. "The Budgetary and Producer Welfare Effects of Revenue Assurance." Center for Agricultural and Rural Development, Iowa State University, Working paper 97-180, June 1997.

Hennessy, David A., Bruce A. Babcock, and Timothy E. Fiez. "Effects of Site-Specific Management on the Application of Agriculturla Inputs." Center for Agricultural and Rural Development, Iowa State University, Working paper 96-156 , March 1996.

Hennessy, David A., Bruce A. Babcock, and Dermot J. Hayes. "The Budgetary and Resource Allocation Effects of Revenue Assurance: Summary of Results." Center for Agricultural and Rural Development, Iowa State University, Briefing paper 95-BP 7, February 1995.

Babcock, Bruce A., and David A. Hennessy. "Input Demand under Yield and Revenue Insurance." Center for Agricultural and Rural Development, Iowa State University, Working paper 94-127, December 1994.

Hayes, Dermot J., John A. Murphy, and David A. Hennessy. "The EC Livestock Sector: Policy Trade, and Research." Center for Agricultural and Rural Development, Iowa State University, GATT research paper 94-GATT 8, February 1994.

Hennessy, David A., and Dermot J. Hayes. "An Econometric Analysis of Changes in the EC's Milk Quota." Center for Agricultural and Rural Development, Iowa State University, GATT research paper 94-GATT 3, February 1994.

Buhr, Brian L., James Hansen, Zuhair Hassan, Dermot J. Hayes, Michael D. Helmar, David A. Hennessy, S.R. Johnson, William H. Meyers, Deborah L. Stephens, Kyle J. Stephens, and Patrick C. Westhoff. "Implications of a GATT Agreement for World Commodity Markets, 1991-2000. Scenario B: Moderate Support Reductions of 50-33-33 with Quantity Disciplines on Export Subsidies." Center for Agricultural and Rural Development, Iowa State University, GATT research paper 91-GATT 4, January 1992.

Westhoff, Patrick C., and David A. Hennessy. "The Structure of EC Agriculture: Implications for CAP Reform and GATT." Center for Agricultural and Rural Development, Iowa State University, GATT research paper 92-GATT 2, October 1991.

Buhr, Brian L., James Hansen, Zuhair Hassan, Dermot J. Hayes, Michael D. Helmar, David A. Hennessy, Stanley R. Johnson, William H. Meyers, Deborah L. Stephens, Kyle J. Stephens, and Patrick C. Westhoff. "Determining Winners and Losers from a GATT Agreement: The Importance of Base Periods and Rules." Center for Agricultural and Rural Development, Iowa State University, GATT research paper 91-GATT 2, January 1991.

Buhr, Brian L., James Hansen, Zuhair Hassan, Dermot J. Hayes, Michael D. Helmar, David A. Hennessy, William H. Meyers, Deborah L. Stephens, Kyle J. Stephens, and Patrick C. Westhoff. "Implications of a GATT Agreement for World Commodity Markets, 1991-2000. Scenario A: Moderate Support Reductions of 50-33-33 with Expenditure Disciplines on Export Subsidies." Center for Agricultural and Rural Development, Iowa State University, GATT research paper 91-GATT 1, January 1991.

PRESENTATIONS WITHOUT PROCEEDINGS

Hennessy, David A. "Why Relationship Specific Investments in Food Quality May Influence Agricultural Industrialization." Paper to be presented at the organized symposium titled Vertical Coordination in the U.S. Food Industry: Implications for Food Product Quality and Consumer Welfare, Toronto, Ontario, July 1997.

PRESENTATIONS WITH PROCEEDINGS

Hennessy, David A. "Information Asymmetry as a Reason for Vertical Integration." Presented at the NE-165 conference on Emerging Issues in Strategy and Policy in the Food System, Washington D.C., June 1996, Chapter 3, pp. 39-51.

Hennessy, David A. "Microeconomics of Agricultural Grading: Impacts on the Marketing Channel." Presented at the NE-165 conference on Vertical Coordination in the Food System, Washington D.C., June 1995.

Hennessy, David A., and Thomas I. Wahl. "The Effect of Planting on the Volatility of Grain Futures Prices." Proceedings of the NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management, Chicago, Illinois, April 1995.

Wahl, Thomas I., Dermot J. Hayes, and David A. Hennessy. "Analyzing the Seasonality of US Meat Demand by using Disaggregated Weekly Data." Proceedings of the NCR-134 Conference on Applied Commodity Price Analysis, Forecasting, and Market Risk Management, Chicago, Illinois, April 1990.