Informed Control Over Inputs and Extent of Industrial Processing

David A. Hennessy

Center for Agricultural and Rural Development (CARD) Publications from Center for Agricultural and Rural Development (CARD) at Iowa State University

Abstract: 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.

Keywords: entropy; homogeneous inputs; industrialization; information technologies; sorting. (search for similar items in EconPapers)
JEL-codes: D2 L1 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-agr
Date: 2005-06
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Related works:
Working Paper: Informed Control Over Inputs and Extent of Industrial Processing (2005)
Journal Article: Informed control over inputs and extent of industrial processing (2007)
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Persistent link: http://EconPapers.repec.org/RePEc:ias:cpaper:05-wp398

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