Minet Ranked-Choice Voting

Minet Ranked-Choice Voting (MRCV) is a variation of Baldwin's method proposed by Roy A. Minet, who claims it to be the "best possible ordinal voting method".

Definition
Like Baldwin's method, MRCV uses a ranked ballot (with incomplete ballots allowed), and proceeds in a series of rounds, eliminating the candidate with the least number of points in each round until one gets a majority of first-preference votes.

However, in MRCV, voters are limited to only expressing their top three rankings, they cannot express indifference (equal rankings are not allowed), and the points are assigned to rankings non-linearly, with each ranking assumed to have half the cardinal utility of the previous (somewhat similar to the Dowdall system):