[{"has_accepted_license":"1","oa":1,"file_date_updated":"2019-09-06T09:18:36Z","file":[{"access_level":"open_access","creator":"weingarten","file_size":"333060","file_name":"IMW_working_paper_514.pdf","checksum":"36138ca9e8bf6f49538a6de7b2962835","content_type":"application/x-download","date_updated":"2019-09-06T09:18:36Z","date_created":"2016-03-30T12:34:31Z","file_id":"2902031","relation":"main_file"}],"page":"13","language":[{"iso":"eng"}],"abstract":[{"lang":"eng","text":"This paper applies microeconomic foundations to construct a\r\n\\representative agent\". Herzberg [12] constructed a representative\r\nutility function for finite-dimensional social decision problems and\r\nsince the decision problems of macroeconomic theory are typically\r\ninfinite-dimensional, Herzberg's original result is insufficient for many\r\napplications. We therefore generalise his result by allowing the social\r\nalternatives to belong to a general reflexive Banach space and provide\r\nsufficient conditions for our new results to be satisfied in economic\r\napplications."}],"jel":["D71"],"date_updated":"2018-07-24T13:00:58Z","intvolume":" 514","keyword":["Microfoundation","representative agent","social choice","reflexive Banach space","convex optimisation","ultrafilter","bounded ultrapower","nonstandard analysis"],"ddc":["330"],"publisher":"Center for Mathematical Economics","citation":{"bio1":"Bedrosian G, Herzberg F (2014)

*Microeconomic foundations of representative agent models by means of ultraproducts*. Center for Mathematical Economics Working Papers; 514.

Bielefeld: Center for Mathematical Economics.","dgps":"Bedrosian, G. & Herzberg, F. (2014). *Microeconomic foundations of representative agent models by means of ultraproducts* (Center for Mathematical Economics Working Papers). Bielefeld: Center for Mathematical Economics.

","wels":"Bedrosian, G.; Herzberg, F. (2014): Microeconomic foundations of representative agent models by means of ultraproducts. Bielefeld: Center for Mathematical Economics.","frontiers":"Bedrosian, G., and Herzberg, F. (2014). Microeconomic foundations of representative agent models by means of ultraproducts. *Center for Mathematical Economics Working Papers*, 514, Bielefeld: Center for Mathematical Economics.","apa_indent":"Bedrosian, G., & Herzberg, F. (2014). *Microeconomic foundations of representative agent models by means of ultraproducts* (Center for Mathematical Economics Working Papers, 514). Bielefeld: Center for Mathematical Economics.

","mla":"Bedrosian, Geghard, and Herzberg, Frederik. *Microeconomic foundations of representative agent models by means of ultraproducts*. Bielefeld: Center for Mathematical Economics, 2014. Center for Mathematical Economics Working Papers. 514.","ama":"Bedrosian G, Herzberg F. *Microeconomic foundations of representative agent models by means of ultraproducts*. Center for Mathematical Economics Working Papers. Vol 514. Bielefeld: Center for Mathematical Economics; 2014.","chicago":"Bedrosian, Geghard, and Herzberg, Frederik. 2014. *Microeconomic foundations of representative agent models by means of ultraproducts*. Vol. 514. Center for Mathematical Economics Working Papers. Bielefeld: Center for Mathematical Economics.

","ieee":" G. Bedrosian and F. Herzberg, *Microeconomic foundations of representative agent models by means of ultraproducts*, Center for Mathematical Economics Working Papers, vol. 514, Bielefeld: Center for Mathematical Economics, 2014.","lncs":" Bedrosian, G., Herzberg, F.: Microeconomic foundations of representative agent models by means of ultraproducts. Center for Mathematical Economics Working Papers, 514. Center for Mathematical Economics, Bielefeld (2014).","angewandte-chemie":"G. Bedrosian, and F. Herzberg, *Microeconomic foundations of representative agent models by means of ultraproducts*, Center For Mathematical Economics, Bielefeld, **2014**.","default":"Bedrosian G, Herzberg F (2014) Center for Mathematical Economics Working Papers; 514.

Bielefeld: Center for Mathematical Economics.","harvard1":"Bedrosian, G., & Herzberg, F., 2014. *Microeconomic foundations of representative agent models by means of ultraproducts*, Center for Mathematical Economics Working Papers, no.514, Bielefeld: Center for Mathematical Economics.","apa":"Bedrosian, G., & Herzberg, F. (2014). *Microeconomic foundations of representative agent models by means of ultraproducts* (Center for Mathematical Economics Working Papers, 514). Bielefeld: Center for Mathematical Economics."},"title":"Microeconomic foundations of representative agent models by means of ultraproducts","publication_identifier":{"issn":["0931-6558"]},"type":"working_paper","locked":"1","status":"public","department":[{"_id":"10053"}],"date_created":"2016-03-14T15:08:29Z","author":[{"last_name":"Bedrosian","id":"36956941","first_name":"Geghard","full_name":"Bedrosian, Geghard"},{"first_name":"Frederik","full_name":"Herzberg, Frederik","last_name":"Herzberg"}],"year":"2014","series_title":"Center for Mathematical Economics Working Papers","publication_status":"published","place":"Bielefeld","urn":"urn:nbn:de:0070-pub-29016012","_id":"2901601","volume":514}]