Informed Control Over Inputs and Extent of Industrial Processing

David Hennessy

Staff General Research Papers Archive from Iowa State University, Department of Economics

Abstract: 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 Boltzmann-Shannon entropy statistic can appropriately measure uniformity.

Date: 2005-06-22
New Economics Papers: this item is included in nep-agr and nep-bec
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Published in Economics Letters, March 2007, vol. 94 no. 3, pp. 372-377

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Journal Article: Informed control over inputs and extent of industrial processing (2007)
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