Aggregation

Thorsten Hens and Sabine Elmiger
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Thorsten Hens: University of Zurich
Sabine Elmiger: University of Zurich

Chapter 8 in Economic Foundations for Finance, 2019, pp 133-148 from Springer

Abstract: Abstract In this book, we assume that the entire consumption (production) sector can be represented by a single household (firm). This seems to be an odd assumption given that those sectors consist of millions of heterogeneous agents: each household has different preferences and faces another budget constraint, whereas each firm produces goods in its own way and can be more or less profitable.

Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sptchp:978-3-030-05427-4_8

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DOI: 10.1007/978-3-030-05427-4_8

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