Lorenz curve 5 (20)

Development Economics, Economic Indicators, Economic Inequality, Economics, Math, Statistical Methods, Welfare Economics / , , , , , , , , ,

The Lorenz curve is a graphical representation used in economics and statistics to illustrate the distribution of income, wealth, or other measurable resources within a population. Developed in 1905 by American economist Max O. Lorenz, the curve provides a visual method for assessing inequality by comparing the actual distribution of a resource to a perfectly […]

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