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Existence of a Condorcet winner when views have other-regarding preferences

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posted on 2010-02-04, 14:36 authored by Sanjit Dhami, Ali al-Nowaihi
In standard political economy models, voters are 'self-interested' i.e. care only about 'own' utility. However, the emerging evidence indicates that voters often have 'other-regarding preferences'(ORP), i.e., in deciding among alternative policies voters care about their payo¤s relative to others. We extend a widely used general equilibrium framework in political economy to allow for voters with ORP, as in Fehr- Schmidt (1999). In line with the evidence, these preferences allow voters to exhibit 'envy' and 'altruism', in addition to the standard concern for 'own utility'. We give sufficient conditions for the existence of a Condorcet winner when voters have ORP. This could open the way for an incorporation of ORP in a variety of political economy models. Furthermore, as a corollary, we give more general conditions for the existence of a Condorcet winner when voters have purely selfish preferences.

History

Publisher

Dept. of Economics, University of Leicester

Available date

2010-02-04

Publisher version

http://www.le.ac.uk/economics/research/discussion/papers2007.html

Notes

Updated June 2008

Book series

Papers in Economics;07/16

Language

en

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