Carl Friedrich Wilhelm LAUNHARDT
Carl Friedrich Wilhelm LAUNHARDT, German economist.
LAUNHARDT, Carl Friedrich Wilhelm was born in 1832 in Hannover, Germany.
A civil engineer who applied mathematical techniques to economic problems. His writing on railway pricing virtually discovered the theory of marginal cost pricing as well as its implication of deficits for decreasing-cost industries, and continues to influence current thinking on railway tariffs. He also made significant contributions to industrial location theory, particularly market area analysis.
A version of the pole principle for finding plant locational equilibrium points is to be found in the seminal 1882 article. His Mathe
matische Begründung is, among other things, the first ever text of mathematical economics. In addition to original results on location, it taught the doctrines of Jevons and Walras.
Professor Engineering Science, Rector, Polytechnic College, Hannover, Germany, 1869-1918.
Honours Honorary Dr Dresden Institute, Institution Technology, 1903.