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Entropy‐Based Methods of Modeling Stochastic Production Efficiency
Author(s) -
Miller Douglas J.
Publication year - 2002
Publication title -
american journal of agricultural economics
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.949
H-Index - 111
eISSN - 1467-8276
pISSN - 0002-9092
DOI - 10.1111/1467-8276.00388
Subject(s) - miller , session (web analytics) , library science , citation , principal (computer security) , computer science , operations research , mathematics , world wide web , ecology , biology , operating system
Entropy and other information theoretic concepts were originally developed to solve problems related to sending and receiving messages over noisy communication channels. Since the 1950s, researchers have used information theory to solve statistical modeling, estimation, and testing problems in a wide range of fields. Accordingly, economists have applied information theory to problems in microeconomic research for decades, and the applications related to production economics represent an important and growing segment of this literature.