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- Representative_agent abstract "Economists use the term representative agent to refer to the typical decision-maker of a certain type (for example, the typical consumer, or the typical firm).More technically, an economic model is said to have a representative agent if all agents of the same type are identical. Also, economists sometimes say a model has a representative agent when agents differ, but act in such a way that the sum of their choices is mathematically equivalent to the decision of one individual or many identical individuals. This occurs, for example, when preferences are Gorman aggregable. A model that contains many different agents whose choices cannot be aggregated in this way is called a heterogeneous agent model.The notion of the representative agent can be traced back to the late 19th century. Francis Edgeworth (1881) used the term "representative particular", while Alfred Marshall (1890) introduced a "representative firm" in his Principles of Economics. However, after Robert Lucas, Jr.'s critique of econometric policy evaluation spurred the development of microfoundations for macroeconomics, the notion of the representative agent became more prominent and more controversial. Many macroeconomic models today are characterized by an explicitly stated optimization problem of the representative agent, which may be either a consumer or a producer (or, frequently, both types of representative agents are present). The derived individual demand or supply curves are then used as the corresponding aggregate demand or supply curves.".
- Representative_agent wikiPageExternalLink abstract=941126.
- Representative_agent wikiPageExternalLink HSV_AR.pdf.
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- Representative_agent wikiPageRevisionID "638367186".
- Representative_agent wikiPageWikiLink Agent-based_computational_economics.
- Representative_agent wikiPageWikiLink Agent_(economics).
- Representative_agent wikiPageWikiLink Aggregate_demand.
- Representative_agent wikiPageWikiLink Aggregation_problem.
- Representative_agent wikiPageWikiLink Alan_Kirman.
- Representative_agent wikiPageWikiLink Alfred_Marshall.
- Representative_agent wikiPageWikiLink Auction_theory.
- Representative_agent wikiPageWikiLink Category:Economics_models.
- Representative_agent wikiPageWikiLink Category:Economics_terminology.
- Representative_agent wikiPageWikiLink Dynamic_stochastic_general_equilibrium.
- Representative_agent wikiPageWikiLink Economic_model.
- Representative_agent wikiPageWikiLink Economist.
- Representative_agent wikiPageWikiLink Fallacy_of_composition.
- Representative_agent wikiPageWikiLink Francis_Edgeworth.
- Representative_agent wikiPageWikiLink Francis_Ysidro_Edgeworth.
- Representative_agent wikiPageWikiLink Gorman_polar_form.
- Representative_agent wikiPageWikiLink Heterogeneity_in_economics.
- Representative_agent wikiPageWikiLink Heterogeneous_agent_model.
- Representative_agent wikiPageWikiLink Heterogeneous_agents.
- Representative_agent wikiPageWikiLink Homo_economicus.
- Representative_agent wikiPageWikiLink Lucas_critique.
- Representative_agent wikiPageWikiLink Macroeconomic_model.
- Representative_agent wikiPageWikiLink Mathematical_optimization.
- Representative_agent wikiPageWikiLink Mauro_Gallegati.
- Representative_agent wikiPageWikiLink Methodological_individualism.
- Representative_agent wikiPageWikiLink Microfoundations.
- Representative_agent wikiPageWikiLink Model_(economics).
- Representative_agent wikiPageWikiLink Optimization.
- Representative_agent wikiPageWikiLinkText "'representative' individual".
- Representative_agent wikiPageWikiLinkText "Representative agent".
- Representative_agent wikiPageWikiLinkText "agent".
- Representative_agent wikiPageWikiLinkText "models of human agency".
- Representative_agent wikiPageWikiLinkText "representative agent".
- Representative_agent wikiPageWikiLinkText "representative consumer".
- Representative_agent wikiPageWikiLinkText "representative household".
- Representative_agent wikiPageWikiLinkText "representative".
- Representative_agent hasPhotoCollection Representative_agent.
- Representative_agent wikiPageUsesTemplate Template:More_footnotes.
- Representative_agent wikiPageUsesTemplate Template:Reflist.
- Representative_agent subject Category:Economics_models.
- Representative_agent subject Category:Economics_terminology.
- Representative_agent type Article.
- Representative_agent type Model.
- Representative_agent type Article.
- Representative_agent type Model.
- Representative_agent comment "Economists use the term representative agent to refer to the typical decision-maker of a certain type (for example, the typical consumer, or the typical firm).More technically, an economic model is said to have a representative agent if all agents of the same type are identical.".
- Representative_agent label "Representative agent".
- Representative_agent sameAs Agente_rappresentativo.
- Representative_agent sameAs 代表的個人.
- Representative_agent sameAs m.02t5jz.
- Representative_agent sameAs Q3606438.
- Representative_agent sameAs Q3606438.
- Representative_agent wasDerivedFrom Representative_agent?oldid=638367186.
- Representative_agent isPrimaryTopicOf Representative_agent.