Preference designates the preference/advantage or the promotion of an alternative.

Marketing

A preference strategy is a marketing strategy, with which the production of a special mark image is the center of attention. Whereby the achievement of a higher price becomes possible.

Preferences and/or preference relations serve in particular in the economic science the modelling of participants, in accordance with whose actions its preferences one explains.

A preference relation permits the comparison between two alternatives A and B: "“A is at least as well as B"”, or formal: "“A \ geq B"”. If all alternatives can be compared with one another (so-called "“completeness"”) and if from the preference of A before B and of B before C also the preference of A before C for arbitrary alternatives A, B and C follows (so-called "“transitivity"”), is considered the preference as rationally in the sense one homo oeconomicus. Further a preference relation is considered as constant, if the preference between two consequences remains from alternatives, which converge against arbitrary alternatives A and B, also between A and B. Only a rational and constant preference relation can be represented as use function. This is not for example possible for a lexicographical preference relation (a criterion cannot be compensated by others), since she is not constant.

Further characteristics of a preference relation from special interest are:

• (Severity) Monotonie: More of a property is not worse (preferentially).
• Local non--saturation: To each alternative there is a similar, but better alternative (in any small environment).
• Convexity: The good quantity to any alternative is convex.
• Homothetisch: The Indifferenz between two alternatives applies to each positive multiple of the two alternatives likewise.
• Quasi-linear concerning a property: The Indifferenz between two alternatives remains, if arbitrary units of the property are in addition-given or taken off to both alternatives. (Quasi-linearity is accepted often for the Numeraire, in particular thus money.)
• Risikoavers: Lower-risk alternatives are preferred (i.G. too risk-neutrally and - loving), see also risk preference.

The conception is envious or altruistisch imprecisely, homo oeconomicus can not along-feeling, be. Preferences can have the well-being of other fellow men and/or their equipment with goods etc. to the article. The orthodox theories however usually proceed from egozentrischen participants.

Into the restaurant knowledge clinging subordinates in particular the ("“evolutionary economics"”) and the ("“behavioural economics"”) less conditions to the of the participants.

Literature

Mas Colell, Andreu; Whinston, Michael; & Green, Jerry (1995). Microeconomic Theory. Oxford: Oxford University press. ISBN 0195073401

Dennis Paschke - bases of the political economy ISBN: 3-930737-74-4

References

See also: Preferential rates, risk preference, preference system, use function, Revealed Preference, Instant Runoff Voting, choice by agreement

Articles in category "Preference"

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Related Websites

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• MPS online
  Be wary of people calling you claiming to be from the Telephone (Mailing) Preference Service asking for payment to complete your registration. ...


• Telephone Preference Service
  The Telephone Preference Service (TPS) helps you to make sure your telephone ... sales and marketing voice recorded messages down your telephone line... ...


• The Mail Preference Service - Consumer Assistance
  The consumer assistance and information site of the Direct Marketing Association. Consumer assistance. How to get off a mailing list.