Informed Control Over Inputs and Extent of Industrial Processing

Industrial processing emphasizes information on and control over quality of raw materials. This letter establishes conditions under which informed control involves ensuring uniformity in inputs and increased uniformity encourages more extensive processing. The Boltzmannï¾–Shannon entropy statistic can appropriately measure uniformity.

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Year of publication:	2005-06-22
Authors:	Hennessy, David A.
Institutions:	Department of Economics, Iowa State University

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Series:	Staff General Research Papers.
Type of publication:	Book / Working Paper
Notes:	Published in Economics Letters, March 2007, vol. 94 no. 3, pp. 372-377
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005433232