Representative Agent

GPTKB entity

Statements (19)
Predicate Object
gptkbp:instanceOf Economic Concept
gptkbp:alternativeTo gptkb:Agent-Based_Modeling
gptkbp:assumes Homogeneity among agents
gptkbp:contrastsWith Heterogeneous Agent
gptkbp:criticizedFor Alan Kirman
Oversimplification of economic diversity
gptkbp:describes A single agent whose behavior represents the aggregate behavior of all agents in a model
https://www.w3.org/2000/01/rdf-schema#label Representative Agent
gptkbp:popularizedBy gptkb:Robert_Lucas
gptkbp:relatedTo gptkb:Rational_Expectations
Aggregate Demand
Aggregate Supply
gptkbp:usedFor Simplifying economic modeling
gptkbp:usedIn gptkb:Microeconomics
gptkb:Macroeconomics
gptkb:Dynamic_Stochastic_General_Equilibrium_Models
Computational Economics
gptkbp:bfsParent gptkb:Heterogeneous_Agents
gptkbp:bfsLayer 7