Introduction to Part I

Alan Kirman and Louis‐André Gérard‐Varet

in Economics Beyond the Millennium

Published in print September 1999 | ISBN: 9780198292111
Published online November 2003 | e-ISBN: 9780191596537 | DOI:

Series: The ASSET Series

 Introduction to Part I

Show Summary Details


The author suggests that the problem of aggregation in economics has been treated in too extreme a way. Economists want to deal with all individuals as in the General Equilibrium approach, or to model a representative agent, or to deal with the relation between aggregate variables. Philippe Michel argues in favour of a partial disaggregation into several categories of representative agents. He suggests that this would be a more fruitful approach to macroeconomics.

Keywords: aggregation; individual rationality; macroeconomic theory; representative agent

Chapter.  2067 words. 

Subjects: Macroeconomics and Monetary Economics

Full text: subscription required

How to subscribe Recommend to my Librarian

Buy this work at Oxford University Press »

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.