 Extremes and Moderates: A Characterization and an Application to LobbyingKunal Sengupta () and Murali Agastya No 404, Econometric Society 2004 North American Summer Meetings from Econometric Society Abstract: Abstract: In a society where individuals differ in their valuation of different social policies, when might one consider a given individual as having references that are extreme relative to the others? And how important are such preferences in determining eventual policy? In this paper, we describe an individual as being extreme if her views differ from the mainstream to the extent that the rest of the society is able to unanimously agree on a compromise policy that they strictly prefer to what might have been the outcome if such an individual has her own way. Relying on the intermediate property of preferences due to Grandmont [1978] we provide a simple geometric characterization of extreme preferences. Furthermore, we also present an illustrative positive model of lobbying activity where we apply our characterization result to show that every equilibrium social policy is determined only by the activities of those holding extreme preferences even when they are a minority Keywords: Extremes; moderates; intermediate preferences; collective decisions and lobbying (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:ecm:nasm04:404 Access Statistics for this paper More papers in Econometric Society 2004 North American Summer Meetings from Econometric Society Contact information at EDIRC. |
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