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- Aggregation_problem abstract "An aggregate in economics is a summary measure describing a market or economy. The aggregation problem refers to the difficulty of treating an empirical or theoretical aggregate as if it reacted like a less-aggregated measure, say, about behavior of an individual agent as described in general microeconomic theory. Examples of aggregates in micro- and macroeconomics relative to less aggregated counterparts are: food vs. apples the price level and real GDP vs. the price and quantity of apples the capital stock for the economy vs. the value of computers of a certain type and the value of steam shovels the money supply vs. paper currency the general unemployment rate vs. the unemployment rate of civil engineers.Standard theory uses simple assumptions to derive general, and commonly accepted, results such as the law of demand to explain market behavior. An example is the abstraction of a composite good. It considers the price of one good changing proportionately to the composite good, that is, all other goods. If this assumption is violated and the agents are subject to aggregated utility functions, restrictions on the latter are necessary to yield the law of demand. The aggregation problem emphasizes: how broad such restrictions are in microeconomics that use of broad factor inputs ('labor' and 'capital'), real 'output', and 'investment', as if there was only a single such aggregate is without a solid foundation for rigorously deriving analytical results.Franklin Fisher notes that this has not dissuaded macroeconomists from continuing to use such concepts.".
- Aggregation_problem wikiPageExternalLink abstract=941126.
- Aggregation_problem wikiPageExternalLink article?id=pde2008_A000059&q=aggregation%20(production)&topicid=&result_number=1.
- Aggregation_problem wikiPageExternalLink article?id=pde2008_A000234&q=aggregation&topicid=&result_number=2.
- Aggregation_problem wikiPageExternalLink article?id=pde2008_A000247&q=aggregation&topicid=&result_number=4.
- Aggregation_problem wikiPageID "8529463".
- Aggregation_problem wikiPageRevisionID "597771248".
- Aggregation_problem hasPhotoCollection Aggregation_problem.
- Aggregation_problem subject Category:Economics_terminology.
- Aggregation_problem subject Category:Macroeconomic_aggregates.
- Aggregation_problem subject Category:Mathematical_economics.
- Aggregation_problem subject Category:Microeconomics.
- Aggregation_problem subject Category:Underlying_principles_of_microeconomic_behavior.
- Aggregation_problem type Abstraction100002137.
- Aggregation_problem type Cognition100023271.
- Aggregation_problem type Content105809192.
- Aggregation_problem type Generalization105913275.
- Aggregation_problem type Idea105833840.
- Aggregation_problem type Principle105913538.
- Aggregation_problem type PsychologicalFeature100023100.
- Aggregation_problem type UnderlyingPrinciplesOfMicroeconomicBehavior.
- Aggregation_problem comment "An aggregate in economics is a summary measure describing a market or economy. The aggregation problem refers to the difficulty of treating an empirical or theoretical aggregate as if it reacted like a less-aggregated measure, say, about behavior of an individual agent as described in general microeconomic theory. Examples of aggregates in micro- and macroeconomics relative to less aggregated counterparts are: food vs. apples the price level and real GDP vs.".
- Aggregation_problem label "Aggregation problem".
- Aggregation_problem label "Aggregationsproblem".
- Aggregation_problem label "Agregado (economia)".
- Aggregation_problem sameAs Aggregationsproblem.
- Aggregation_problem sameAs Agregado_(economia).
- Aggregation_problem sameAs m.0276s25.
- Aggregation_problem sameAs Q4692266.
- Aggregation_problem sameAs Q4692266.
- Aggregation_problem sameAs Aggregation_problem.
- Aggregation_problem wasDerivedFrom Aggregation_problem?oldid=597771248.
- Aggregation_problem isPrimaryTopicOf Aggregation_problem.