  LISA should detect gravitational waves from tens to hundreds of systems
containing black holes with mass in the range from 10 thousand to 10 million
solar masses. Black holes in this mass range are not well constrained by
current electromagnetic observations, so LISA could significantly enhance our
understanding of the astrophysics of such systems. In this paper, we describe a
framework for combining LISA observations to make statements about massive
black hole populations. We summarise the constraints that LISA observations of
extreme-mass-ratio inspirals might be able to place on the mass function of
black holes in the LISA range. We also describe how LISA observations can be
used to choose between different models for the hierarchical growth of
structure in the early Universe. We consider four models that differ in their
prescription for the initial mass distribution of black hole seeds, and in the
efficiency of accretion onto the black holes. We show that with as little as 3
months of LISA data we can clearly distinguish between these models, even under
relatively pessimistic assumptions about the performance of the detector and
our knowledge of the gravitational waveforms.
