The Collaborative International Dictionary of English v.0.48:

Privation \Pri*va"tion\ (pr[-i]*v[=a]"sh[u^]n), n. [L. privatio:
   cf. F. privation. See Private.]
   1. The act of depriving, or taking away; hence, the depriving
      of rank or office; degradation in rank; deprivation.
      --Bacon.
      [1913 Webster]

   2. The state of being deprived or destitute of something,
      especially of something required or desired; destitution;
      need; as, to undergo severe privations.
      [1913 Webster]

   3. The condition of being absent; absence; negation.
      [1913 Webster]

            Evil will be known by consequence, as being only a
            privation, or absence, of good.       --South.
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            Privation mere of light and absent day. --Milton.
      [1913 Webster]

WordNet (r) 3.0 (2006):

privation
    n 1: a state of extreme poverty [syn: privation, want,
         deprivation, neediness]
    2: act of depriving someone of food or money or rights;
       "nutritional privation"; "deprivation of civil rights" [syn:
       privation, deprivation]