A note on Shannon's entropy as an index of product variety

Straathof, Bas (2003). A note on Shannon's entropy as an index of product variety. UNU-MERIT Research Memoranda. UNU-MERIT.

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  • Sub-type Working paper
    Author Straathof, Bas
    Title A note on Shannon's entropy as an index of product variety
    Series Title UNU-MERIT Research Memoranda
    Volume/Issue No. 28
    Publication Date 2003
    Publisher UNU-MERIT
    Language eng
    Abstract This note shows that the antilog of Shannon's entropy is a suitable index of product variety for three reasons. First, for symmetric product types it is equal to the number of product types. Second, disaggregation of the underlying product set always leads to an increase in measured product variety. Third, the introduction or disappearance of a marginal type does not cause a discrete change in the variety index. These properties hold for a class of weights that includes, but is not limited to, frequencies.
    Copyright Year 2003
    Copyright type All rights reserved
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    Created: Fri, 13 Dec 2013, 12:40:48 JST