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The economics of analysis and calibration

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Where either or both unit cost and selling price are non-linear with respect to analysis, increased profits result from increased accuracy and increased precision of analytical assays. Improved assays come from better calibration of both laboratory and on-line analyzers. The shipping strategy must be made explicit, and the statistics of the assay defined. Risk can be calculated and profit maximized. Where both costs and price are linear with analysis, there is no profit to be made by improved measurement.

10.1163/156856601753392012
/content/journals/10.1163/156856601753392012
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/content/journals/10.1163/156856601753392012
2001-11-01
2016-12-10

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