Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/103929
Authors: 
Bedrosian, Geghard
Herzberg, Frederik
Year of Publication: 
2014
Series/Report no.: 
Working Papers, Center for Mathematical Economics 514
Abstract: 
This paper builds on a recent proposal for microeconomic foundations for "representative agents". Herzberg [Journal of Mathematical Economics, vol. 46, no. 6, 1115-1124 (2010)] constructed a representative utility function for infinite-dimensional social decision problems and since the decision problems of macroeconomic theory are typically infinite-dimensional, Herzberg's original result is insufficient for many applications. We therefore generalise his result by allowing the social alternatives to belong to a general reflexive Banach space and provide sufficient conditions for our new results to be satisfied in economic applications.
Subjects: 
microfoundation
representative agent
social choice
reflexive Banach space
convex optimisation
ultrafilter
bounded ultrapower
nonstandard analysis
JEL: 
D71
Persistent Identifier of the first edition: 
Document Type: 
Working Paper

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