Benjamin Gompertz

From Academic Kids

Benjamin Gompertz (March_5. 1779 - July_14, 1865, London, England), was a self educated mathematician, denied admission to university on account of his being Jewish. Nevertheless he was made Fellow of the Royal Society from 1819. Gompertz is today mostly known for his Gompertz's law of mortality, a demographic model published in 1825. The model can be written in this way:

<math>N'(t) = -r N(t) \log \left( \frac {N(t)}{K} \right)\, <math>

where <math>N(t)<math> represents number of individuals at time t, r the intrinsic growth rate and K number of individuals in equilibrium.

This model is a refinement of the demographic model of Malthus. It was used by insurance companies to calculate the cost of life insurance.

Gompertz's descendent Simon Gompertz is an economics presenter for the BBC.

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