David A. Hennessy

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A prominent facet of recent changes in agriculture has been the advent of precision breeding techniques. Another has been an increase in the level of information inputs and outputs associated with agricultural production. This paper identifies ways in which these features may complement in expanding the variety of processed products, the level of(More)
Yield improvements are critical to ensuring food security for a growing world population especially in view of the increasing potential for use of land in biofuel production. Efforts to sustain the impressive rate of past productivity gains, epitomized by such successes as the Green revolution, are bound to rely on biotechnology innovations such as those(More)
While controversy surrounds skewness attributes of typical yield distributions, a better understanding is important for agricultural policy assessment and for crop insurance rate setting. Day (1965) conjectured that crop yield skewness declines with an increase in low levels of nitrogen use, but higher levels have no effect. In a theoretical model based on(More)
We present a dynamic model of an agent's decision to purchase or sell a good under conditions of uncertainty, irreversibility, and learning over time. Her WTP contains both the intrinsic value of the good and a commitment cost associated with delaying the decision until more information is available. Consequently, the standard Hicksian equivalence between(More)