Max O. Lorenz
Encyclopedia
Max Otto Lorenz was an American
economist
who developed the Lorenz curve
in 1905 to describe income inequalities. He published this paper while a doctoral student at the University of Wisconsin–Madison
. His doctorate (1906) was on 'The Economic Theory of Railroad Rates' and made no reference to perhaps his most famous paper.
He was active in both publishing and teaching and was at various times employed by the U.S. Census Bureau, the U.S. Bureau of Railway Economics, the U.S. Bureau of Statistics and the U.S. Interstate Commerce Commission
.
He was married to his wife Nellie, and he fathered 3 sons: Fred, Roger, and Julian Lorenz.
The term Lorenz curve
seems first to have been used in 1912 in a textbook The Elements of Statistical Method.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
economist
Economist
An economist is a professional in the social science discipline of economics. The individual may also study, develop, and apply theories and concepts from economics and write about economic policy...
who developed the Lorenz curve
Lorenz curve
In economics, the Lorenz curve is a graphical representation of the cumulative distribution function of the empirical probability distribution of wealth; it is a graph showing the proportion of the distribution assumed by the bottom y% of the values...
in 1905 to describe income inequalities. He published this paper while a doctoral student at the University of Wisconsin–Madison
University of Wisconsin–Madison
The University of Wisconsin–Madison is a public research university located in Madison, Wisconsin, United States. Founded in 1848, UW–Madison is the flagship campus of the University of Wisconsin System. It became a land-grant institution in 1866...
. His doctorate (1906) was on 'The Economic Theory of Railroad Rates' and made no reference to perhaps his most famous paper.
He was active in both publishing and teaching and was at various times employed by the U.S. Census Bureau, the U.S. Bureau of Railway Economics, the U.S. Bureau of Statistics and the U.S. Interstate Commerce Commission
Interstate Commerce Commission
The Interstate Commerce Commission was a regulatory body in the United States created by the Interstate Commerce Act of 1887. The agency's original purpose was to regulate railroads to ensure fair rates, to eliminate rate discrimination, and to regulate other aspects of common carriers, including...
.
He was married to his wife Nellie, and he fathered 3 sons: Fred, Roger, and Julian Lorenz.
The term Lorenz curve
Lorenz curve
In economics, the Lorenz curve is a graphical representation of the cumulative distribution function of the empirical probability distribution of wealth; it is a graph showing the proportion of the distribution assumed by the bottom y% of the values...
seems first to have been used in 1912 in a textbook The Elements of Statistical Method.