Existence of a Condorcet Winner When Voters Have Other-Regarding Preferences
In standard political economy models, voters are "self-interested" that is, care only about "own" utility. However, the emerging evidence indicates that voters often have "other-regarding preferences" (ORP), that is, in deciding among alternative policies voters care about their payoffs relative to others. We extend a widely used general equilibrium framework in political economy to allow for voters with ORP, as in Fehr and 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. Copyright © 2010 Wiley Periodicals, Inc..
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Volume (Year): 12 (2010)
Issue (Month): 5 (October)
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- Jean-Robert Tyran & Rupert Sausgruber, 2002.
"A Little Fairness may Induce a Lot of Redistribution in Democracy,"
University of St. Gallen Department of Economics working paper series 2002
2002-30, Department of Economics, University of St. Gallen.
- Tyran, Jean-Robert & Sausgruber, Rupert, 2006. "A little fairness may induce a lot of redistribution in democracy," European Economic Review, Elsevier, vol. 50(2), pages 469-485, February.
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