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文章基本信息

  • 标题:On the utility representation of asymmetric single-peaked preferences*
  • 本地全文:下载
  • 作者:Francisco Martinez Mora ; M. Socorro Puy
  • 期刊名称:Discussion Papers / University of Leicester, Department of Economics
  • 出版年度:2011
  • 卷号:2011
  • 出版社:Leicester
  • 摘要:

    We introduce two natural types of asymmetric single-peaked preferences, which we name biased- above and biased-below, depending on whether the asymmetry (or preference-bias) favors alternatives above or below the peak. We define a rich family of utility functions, the generalized distance-metric utility functions, that can represent preferences biased-above or biased-below, besides accommodating any degree of asymmetry. We also identify restrictions on di¤erentiable utility representations that guarantee the underlying preferences to be biased-above or below, and allow to compare degrees of asymmetry. Finally, we consider a specific application -agents preferences over
    government size- to illustrate the role of factors such as risk aversion and tax distortions in shaping asymmetric preferences.

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