On 06/17/2013 03:10 AM, Warren D Smith wrote:
is my name for an idea advanced in atrocious work by several economists (2012-2013) and improved/corrected/examined by me. The idea is by paying to cast your score voting ballot according to certain carefully designed price formulas, you will become inspired by the profit motive to vote honestly. Unfortunately this disregards some massive real world problems, but perhaps might be ok in some corporate votes and also (if the whole max-profit-motive-theorem is abandoned instead merely seeking to discourage exaggeration in range voting) as modified by us even perhaps in governmental ones.Analysis here: http://rangevoting.org/MonetizedRV.html
The first thing that comes to mind, and you probably said so already, is that the mere fact that people are voting in large public elections in the first place implies that the voters are not voting simply to increase expected return by changing who is in power. The probability of a single vote making a difference is just too low.
Perhaps monetized voting systems could be used to make different types of prediction markets. I know little about the subject, though; it's just another idea that came to mind, since the players in such a market would act to try to maximize their profits.
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