During production processes there is an accumulation of uncertainty about production and its output. However, decision-makers can reduce uncertainty by taking measurements. The role of value of measurements is discussed in a dynamic production framework where the number of measurements depends...

During production processes there is an accumulation of uncertainty aboutproduction and its output. However, decision-makers can reduce uncertainty bytaking measuremens. The role of value of measurements is discussed in adynamic production framework where the number of measurements depends on...