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Informed Control Over Inputs and Extent of Industrial Processing

Author

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  • Hennessy, David A.

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.

Suggested Citation

  • Hennessy, David A., 2005. "Informed Control Over Inputs and Extent of Industrial Processing," Staff General Research Papers Archive 12377, Iowa State University, Department of Economics.
  • Handle: RePEc:isu:genres:12377
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    References listed on IDEAS

    as
    1. 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. 0(Number 1), pages 1-23, July.
    2. Martin L. Weitzman, 2000. "Economic Profitability Versus Ecological Entropy," The Quarterly Journal of Economics, Oxford University Press, vol. 115(1), pages 237-263.
    3. 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.
    4. John A. Miranowski & Bruce A. Babcock, 2004. "Genetic Information in Agricultural Productivity and Product Development," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(1), pages 73-87.
    5. Shorrocks, Anthony F, 1983. "Ranking Income Distributions," Economica, London School of Economics and Political Science, vol. 50(197), pages 3-17, February.
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    Cited by:

    1. 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.
    2. Lambert, David K., 2008. "The expected utility of genetic information in beef cattle production," Agricultural Systems, Elsevier, vol. 99(1), pages 44-52, December.

    More about this item

    JEL classification:

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

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