n.1 the act or an instance of preferring or being preferred.
2 a thing preferred.
3 a the favouring of one person etc. before others. b Commerce the favouring of one country by admitting its products at a lower import duty.
4 Law a prior right, esp. to the payment of debts.
Phrases and idioms:
in preference to as a thing preferred over (another). preference shares (or stock) Brit. shares or stock whose entitlement to dividend takes priority over that of ordinary shares.
Etymology: F pr{eacute}f{eacute}rence f. med.L praeferentia (as PREFER)