Quadratic voting: Difference between revisions

[[File:ColoradoStateCapitolSenateChamber gobeirne.jpg|thumb|430x430px|Inside the [[Colorado State Capitol]] Building, where the quadratic voting process took place]]

'''Quadratic voting''' is a collective [[decision-making]] procedure which involves individuals allocating [[Voting|votes]] to express the ''degree'' of their preferences, rather than just the ''direction'' of their preferences.<ref name="LalleyWeyl">{{cite journal | last=Lalley | first=Steven P. | last2=Weyl | first2=E. Glen | title=Quadratic Voting: How Mechanism Design Can Radicalize Democracy | journal=AEA Papers and Proceedings | publisher=American Economic Association | volume=108 | date=2018-05-01 | issn=2574-0768 | doi=10.1257/pandp.20181002 | pages=33–37}}</ref> By doing so, quadratic voting seeks to address issues of [[voting paradox]] and [[majority rule]]. Quadratic voting works by allowing users to "pay" for additional votes on a given matter to express their support for given issues more strongly, resulting in voting outcomes that are aligned with the highest willingness to pay outcome, rather than just the outcome preferred by the majority regardless of the intensity of individual preferences. The payment for votes may be through either artificial or real currencies (e.g. with tokens distributed equally among voting members or with real money).<ref name=RadicalMarkets>{{Cite book |title=Radical markets: uprooting capitalism and democracy for a just society |last1=Posner |first1=Eric A. |last2=Weyl |first2=E. Glen |date=2018 |isbn=9780691177502 |language=en |oclc=1030268293}}</ref><ref name=LalleyWeyl /> Quadratic voting is a variant of [[cumulative voting]] in the class of [[cardinal voting]]. It differs from cumulative voting by altering "the cost" and "the vote" relation from linear to quadratic.

==References==

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