Lorenz curve


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Lorenz curve

[′lȯr‚ens ‚kərv]
(statistics)
A graph for showing the concentration of ownership of economic quantities such as wealth and income; it is formed by plotting the cumulative distribution of the amount of the variable concerned against the cumulative frequency distribution of the individuals possessing the amount.
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To give an overview of our analysis, in Figure 1 we start with three Lorenz curves. A Lorenz curve is a visual representation of inequality.
To evaluate the total inequality, Gini coefficient Robin Hood index based on Lorenz curve was used.
The standard tools in the measurement of income Inequality such as Lorenz Curve, Gini Index, and Generalized Entropy and Atkinson indices are applied.
In order to calculate seasonal concentration in tourist arrivals and overnights a combination of measurement methods including Seasonality ratio, Lorenz curve and Gini coefficient were applied to measure the degree of seasonality and compare the degree of seasonality between years.
The Lorenz curve, L(x), depicts the actual cumulative income distribution across the population.
Based on the score the data obtained was used to calculate Sorenson's similarity coefficient, Shannon's diversity index (11), Range weighted richness (12), Pielou's evenness index (13), Pareto Lorenz curve (14) and Moving window analysis (15).
Related parametric measures of income inequality like Gini index, generalized entropy measure, two percentile ratios and Lorenz curve illustrate that income inequality is increased in the province of Punjab during the years 2004-2008.
This permits us to describe and quantify inequality with standard tools such as the Lorenz curve and the Gini coefficient.
According to the Lorenz curve diagram, the income share of the poorest pth quintile of the population serves for this purpose, and can be expressed as
Second, in order to measure the distribution of income for any country, the Gini Coefficient is used in order to quantify the Lorenz Curve. Similar to an Edgeworth Box, Max Lorenz created the Lorenz Curve in 1905 in order to show the percentage of income (the y-axis in Figure 1) held by a certain percentage of the population (the x-axis in Figure 1).
This is the purpose of the ordered Lorenz curve. If the insurer can form profitable portfolios, then the competition may also be able to do so, inviting potential raiding by competing firms.
He has presented papers on a wide range of topics, comprising Malthus's theory of unemployment, Sismondi's analysis of laissez-faire, Hobson's critique of the marginal productivity theory of distribution, the history of the 'Wages Fund' controversy, early critics of economic rationalism, the history of writings on the distribution of wealth, the origins of the Lorenz Curve and the Gini Coefficient, Malthus's macroeconomic model, and the history and nature of the concept of positional goods, as well as offering short presentations on Keynesian income determination diagrams and Hobson's legacy 150 years after his birth.