Informed Control Over Inputs and Extent of Industrial Processing

Date
2005-06-01
Authors
Hennessy, David
Hennessy, David
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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.

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entropy, homogeneous inputs, industrialization, information technologies, sorting
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