This note is a part of my Zettelkasten. What is below might not be complete or accurate. It
is also likely to change often.
25th July, 2020
Quadratic Voting
Quadratic Voting is a Voting Mechanism
It works like this:
- Every citizen is given a budget of voice credits
- When decisions are being voted for, they can use (any number of) these voice credits to cast votes on outcomes they support
- They can also save these voice credits for the future
- Cost of a number of votes is its square in voice credits
- A referrendum is approved when the number of votes for are greater than votes against.
The idea is that when an individual votes to decide the redistribution of Public Good, they should be able to vote as much as they wish, but they should pay the cost that their votes imposes on others. When an individual wants a marginal change in a public policy or good which effects everyone in their individual favour, for every marginal change, they should pay a quadratically increasing cost.
Pros
- Allows citizens to cast votes that reflect the strength of their preferences.
- Passionate minorities can save their votes for voting on specific decisions which effect them the most.
- This will allow them to outvote an indifferent majority
- Example: Environmental activists can save their votes for referendums which effect the forests the most.
- How will this outcome maximize the well-being of the entire group as claimed by the book?
- Many points here I dont understand....
Cons