An alternative single parameter functional form for Lorenz curve

This paper proposes a single parameter functional form for the Lorenz curve and compares its performance with the existing single parameter functional forms using Australian income data for 10 years. The proposed parametric functional form performs better than the existing Lorenz functional specifications based on mean-squared error and information accuracy measure. The Gini based on the proposed functional form turns out to be second best closely behind Aggarwal’s Lorenz curve specification in each year.