TY  - GEN
AB  - This paper applies microeconomic foundations to construct a
\representative agent". Herzberg [12] constructed a representative
utility function for finite-dimensional social decision problems and
since the decision problems of macroeconomic theory are typically
infinite-dimensional, Herzberg's original result is insufficient for many
applications. We therefore generalise his result by allowing the social
alternatives to belong to a general reflexive Banach space and provide
sufficient conditions for our new results to be satisfied in economic
applications.
DA  - 2014
KW  - Microfoundation
KW  - representative agent
KW  - social choice
KW  - reflexive Banach space
KW  - convex optimisation
KW  - ultrafilter
KW  - bounded ultrapower
KW  - nonstandard analysis
LA  - eng
PY  - 2014
SN  - 0931-6558
SP  - 13-
TI  - Microeconomic foundations of representative agent models by means of ultraproducts
UR  - https://nbn-resolving.org/urn:nbn:de:0070-pub-29016012
Y2  - 2024-11-22T09:38:18
ER  -