Informed Control Over Inputs and Extent of Industrial Processing

Stylized facts regarding the industrial process include emphases on obtaining information about and control over the quality of raw materials. We provide a model that establishes conditions under which informed control involves ensuring uniformity in inputs and increased uniformity encourages more extensive processing. We show when the Boltzmann-Shannon entropy statistic is an appropriate measure of uniformity.

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Year of publication:	2005-06
Authors:	Hennessy, David A.
Institutions:	Center for Agricultural and Rural Development (CARD), Iowa State University
Subject:	entropy \| homogeneous inputs \| industrialization \| information technologies \| sorting

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Extent:	application/pdf text/html
Series:	Center for Agricultural and Rural Development (CARD) Publications.
Type of publication:	Book / Working Paper
Classification:	D2 - Production and Organizations ; L1 - Market Structure, Firm Strategy, and Market Performance
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005786587