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Informed Control Over Inputs and Extent of Industrial Processing

Author

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  • Hennessy, David A.

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.

Suggested Citation

  • Hennessy, David A., 2005. "Informed Control Over Inputs and Extent of Industrial Processing," Hebrew University of Jerusalem Archive 18580, Hebrew University of Jerusalem.
    • Handle: RePEc:ags:hebarc:18580
    DOI: 10.22004/ag.econ.18580
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    References listed on IDEAS

    as
    1. Sen, Amartya, 1973. "On Economic Inequality," OUP Catalogue, Oxford University Press, number 9780198281931.
    2. repec:bla:econom:v:50:y:1983:i:197:p:3-17 is not listed on IDEAS
    3. David A. Hennessy & John A. Miranowski & Bruce A. Babcock, 2004. "Genetic Information in Agricultural Productivity and Product Development," American Journal of Agricultural Economics, John Wiley & Sons, vol. 86(1), pages 73-87, February.
    4. Chalfant, James A. & James, Jennifer S. & Lavoie, Nathalie & Sexton, Richard J., 1999. "Asymmetric Grading Error And Adverse Selection: Lemons In The California Prune Industry," Journal of Agricultural and Resource Economics, Western Agricultural Economics Association, vol. 24(01), pages 1-23, July.
    5. Martin L. Weitzman, 2000. "Economic Profitability Versus Ecological Entropy," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 115(1), pages 237-263.
    6. Dasgupta, Partha & Sen, Amartya & Starrett, David, 1973. "Notes on the measurement of inequality," Journal of Economic Theory, Elsevier, vol. 6(2), pages 180-187, April.
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    Cited by:

    1. is not listed on IDEAS
    2. Bulut, Harun & Lawrence, John D., 2007. "Meat Slaughter and Processing Plants' Traceability Levels Evidence From Iowa," Staff General Research Papers Archive 12791, Iowa State University, Department of Economics.
    3. Lambert, David K., 2008. "The expected utility of genetic information in beef cattle production," Agricultural Systems, Elsevier, vol. 99(1), pages 44-52, December.
    4. Hennessy, David A. & Zhang, Jing & Bai, Na, 2019. "Animal health inputs, endogenous risk, general infrastructure, technology adoption and industrialized animal agriculture," Food Policy, Elsevier, vol. 83(C), pages 355-362.
    5. David A. Hennessy & Tong Wang, 2012. "Animal Disease and the Industrialization of Agriculture," Natural Resource Management and Policy, in: David Zilberman & Joachim Otte & David Roland-Holst & Dirk Pfeiffer (ed.), Health and Animal Agriculture in Developing Countries, edition 1, chapter 0, pages 77-99, Springer.

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    More about this item

    Keywords

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    JEL classification:

    • D2 - Microeconomics - - Production and Organizations
    • L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance

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