Please use this identifier to cite or link to this item:
Title: On the utility representation of asymmetric single-peaked preferences
Authors: Martínez-Mora, Francisco
Socorro Puy, M.
First Published: Jan-2011
Publisher: Dept. of Economics, University of Leicester
Abstract: 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 de ne 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 speci c application agents preferences over government size to illustrate the role of factors such as risk aversion and tax distortions in shaping asymmetric preferences.
Series/Report no.: Papers in Economics;11/18
Type: Report
Appears in Collections:Reports, Dept. of Economics

Files in This Item:
File Description SizeFormat 
dp11-18.pdf185.27 kBAdobe PDFView/Open

Items in LRA are protected by copyright, with all rights reserved, unless otherwise indicated.