preferencia

Preferencia is a Spanish noun meaning the act of preferring one thing over another or the priority given to a particular option. It originates from Latin praeferentia, formed from praeferre, meaning to bear or carry in front. The term is used across everyday language and specialized fields to denote choice, taste, or ordering of options.

In economics and decision theory, preferences describe how an agent ranks alternatives. A preference relation orders feasible choices and is often assumed to be complete and transitive. Economists distinguish ordinal preferences (only the ranking matters) from cardinal or intensity-based notions. Representations of preferences by utility functions underpin theories of choice, welfare, and demand, and concepts such as revealed preference test actual behavior.

In voting and electoral systems, preference-based methods require voters to rank candidates or options in order of desirability. Techniques such as preferential or ranked-choice voting use these rankings to determine a winner, sometimes through transfer of votes when no option secures a majority. The framework of preferences also informs analysis of coalition formation and outcome stability.

In legal and contractual contexts, preferencia can denote a priority or advantageous status granted to a person or entity. Common examples include a creditor's preferential claim in insolvency proceedings or a contractual derecho de preferencia (right of first refusal) granting a party the option to purchase or contract before others. The precise scope of preferencia varies by jurisdiction and statute.