Aggregate behavior

In economics, aggregate behavior refers to economy-wide sums of individual behavior. It involves relationships between economic aggregates such as national income, government expenditure, and aggregate demand. For example, the consumption function is a relationship between aggregate demand for consumption and aggregate disposable income.

Models of aggregate behavior may be derived from direct observation of the economy, or from models of individual behavior.^[1] Theories of aggregate behavior are central to macroeconomics.

^ Hommes, Cars; Lux, Thomas (March 2013). "Individual Expectations and Aggregate Behavior in Learning-To-Forecast Experiments". Macroeconomic Dynamics. 17 (2): 373–401. doi:10.1017/S1365100511000162. hdl:10234/70923. ISSN 1365-1005. S2CID 7546341.

[1] Hommes, Cars; Lux, Thomas (March 2013). "Individual Expectations and Aggregate Behavior in Learning-To-Forecast Experiments". Macroeconomic Dynamics. 17 (2): 373–401. doi:10.1017/S1365100511000162. hdl:10234/70923. ISSN 1365-1005. S2CID 7546341.

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