representative agent

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• Representative agent — Economists use the term representative agent to refer to the typical individual of a certain type (for example, the typical consumer, or the typical firm). More technically, an economic model is said to have a representative agent if all agents… …   Wikipedia

• Agent (economics) — In economics, an agent is an actor and decision maker in a model. Typically, every agent makes decisions by solving a well or ill defined optimization/choice problem. The term agent can also be seen as equivalent to player in game theory. For… …   Wikipedia

• Agent — An agent is either: * an entity who is capable of action * someone (or something) who acts on behalf of another person.In law* Agent (law): a person authorised to act on behalf of another person ** Patent agent, or patent attorney, a professional …   Wikipedia

• representative — rep·re·sen·ta·tive 1 adj 1: serving to represent 2 a: standing or acting for another esp. through delegated authority an agent acting in a representative capacity b: of, based on, or constituting a government in which the people are represented… …   Law dictionary

• agent — n 1: someone or something that acts or exerts power: a moving force in achieving some result 2: a person guided or instigated by another in some action where the heads of departments are the political...agent s of the executive, merely to execute …   Law dictionary

• Representative — Rep re*sent a*tive, n. [Cf. LL. repraesentativus.] [1913 Webster] 1. One who, or that which, represents (anything); that which exhibits a likeness or similitude. [1913 Webster] A statute of Rumor, whispering an idiot in the ear, who was the… …   The Collaborative International Dictionary of English

• agent — [ā′jənt] n. [L agens (gen. agentis), prp. of agere, ACT1] 1. a person or thing that performs an action or brings about a certain result, or that is able to do so 2. an active force or substance producing an effect [a chemical agent] 3. a person,… …   English World dictionary

• representative — [rep΄rə zen′tə tiv] adj. [ME < MFr or ML: MFr représentatif < ML repraesentativus] 1. representing or serving to represent; specif., a) picturing; portraying; reproducing b) acting or speaking, esp. by due authority, in the place or on… …   English World dictionary

• representative — [adj] characteristic, typical adumbrative, archetypal, classic, classical, delineative, depictive, emblematic, evocative, exemplary, ideal, illustrative, model, presentational, prototypal, prototypical, quintessential, rep*, symbolic, symbolical; …   New thesaurus

• representative — ► ADJECTIVE 1) typical of a class or group. 2) containing typical examples of many or all types: a representative sample. 3) (of a legislative or deliberative assembly) consisting of people chosen to act and speak on behalf of a wider group. 4)… …   English terms dictionary

• agent — [n1] person representing an organization or person in business abettor, actor, advocate, ambassador, assignee, assistant, attorney, broker, commissioner, delegate, deputy, doer, emissary, envoy, executor, factor, factotum, functionary, go between …   New thesaurus