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Handbook on Optimal Growth 1 pp 385–442Cite as

Equilibrium Dynamics with Many Agents

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13.6 Conclusion

Time preference influences intertemporal allocations. Ramsey’s many agent model provides us with a framework for seeing how individual tastes can influence an economy’s development and the distribution of its produce. The ways in which it differs from the representative agent theory may, with further research, provide us with a foundation for macrodynamic models with many agents where there interactions influence the level of macroeconomic activity and the conduct of macroeconomic policy.

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Authors and Affiliations

  1. Department of Economics, Indiana University, Bloomington, IN, USA

    Robert A. Becker

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  1. Robert A. Becker
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Editors and Affiliations

  1. CEREMADE, University of Paris IX Dauhine, Place du Marechal de Lattre de Tassigny, 75775, Paris Cedex 16, France

    Rose-Anne Dana

  2. CERMSEM, University of Paris 1 — Pantheon Sorbonne, 106-112 boulevard de l’Hopital, 75013, paris, France

    Cuong Le Van

  3. Department of Economics, Cornell University, Ithaca, NY, 14853, USA

    Tapan Mitra

  4. Institute of Economic Research, Kyoto University, Yoshida-Honmachi, Sakyo-hu, Kyoto, 606-8501, Japan

    Kazuo Nishimura

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Becker, R.A. (2006). Equilibrium Dynamics with Many Agents. In: Dana, RA., Le Van, C., Mitra, T., Nishimura, K. (eds) Handbook on Optimal Growth 1. Springer, Berlin, Heidelberg. https://doi.org/10.1007/3-540-32310-4_13

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