Informed Control Over Inputs and Extent of Industrial Processing
Hennessy, David A.
Economics Letters Vol. 94 no. 3 (March 2007): 372-377. (Originally published as CARD Working Paper #05-WP 398)
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ﾖShannon entropy statistic can appropriately measure uniformity.