Rpresentative agent models have become a predominant means of studying themacroeconomy in modern economics without there being much discussion in theliterature ... » 

Rpresentative agent models have become a predominant means of studying themacroeconomy in modern economics without there being much discussion in theliterature about their propriety or usefulness. This volume evaluates the useof these models in macroeconomics examining the justifications for their useand concluding that representative agent models are neither a proper nor aparticularly useful means of studying aggregate behaviour. «