Talk:Representative agent

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[edit] 'Representative agent' is not equivalent to 'microfoundations'

Much of the motivation given here for assuming a 'representative agent' is actually motivation for constructing 'microfoundations'. In particular, the Lucas critique called for microfoundations. Assuming a representative agent is one way of simplifying the construction of microfoundations, but it shouldn't be equated with the construction of microfoundations. The article needs some rewriting to make this distinction clearer. --Rinconsoleao 08:46, 25 September 2007 (UTC)

This is one of the worst articles I have seen yet -- and in general the economics articles are terrible. There are known conditions under which the representative agent exists -- the only debate should be over whether these conditions are approximately satisfied. Microfoundations do not require the existence of a stand-in household. —Preceding unsigned comment added by 128.143.1.53 (talk) 04:03, 6 October 2007 (UTC)

I've done some rewriting to disentangle the 'representative agent' concept from the 'microfoundations' concept. A section on conditions for the existence of a representative agent could be useful too. Rinconsoleao (talk) 10:39, 19 November 2007 (UTC)