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Off-the-peak preferences over government size

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  • Francisco Martínez Mora
  • M. Socorro Puy

Abstract

We show that preferences-bias towards overprovision or underprovision can explain the asymmetric location of electoral candidates with respect to the median voter. We analyze the determinants of preferences off-the-peak and find that: (i) The sign of the third derivative of the policy-induced utility function indicates whether preferences are bias towards overprovision (positive) or underprovision (negative). (ii) The analog of Kimball's coefficient of prudence can be used to measure the asymmetry of preferences. (iii) Consumers’risk aversion and government corruption (in the form of decreasing e¤ectiveness producing public good) induce voters’ preferences to be more intense towards underprovision.

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Paper provided by FEDEA in its series Working Papers with number 2010-05.

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Date of creation: Feb 2010
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Handle: RePEc:fda:fdaddt:2010-05

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  10. Alessandro Gavazza & Alessandro Lizzeri, 2011. "Transparency and Manipulation of Public Accounts," Journal of Public Economic Theory, Association for Public Economic Theory, vol. 13(3), pages 327-349, 06.
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