IDEAS home Printed from https://ideas.repec.org/a/spr/jeicoo/v19y2024i1d10.1007_s11403-024-00407-1.html
   My bibliography  Save this article

Storable votes with a “pay as you win” mechanism

Author

Listed:
  • Arturo Macías

    (Banco de España)

Abstract

This paper introduces a new storable vote mechanism (Storable Votes-Pay as you win, SV-PAYW) where a fixed number of votes is cast among different alternatives, and the votes spent (and redistributed) on each election depend only on the number cast for the winning alternative. The mechanism is expected to deliver more enfranchisement, efficiency and a reduction of uncertainty and strategic behavior with respect to previously known voting systems. To compare the pure storable votes with the SV-PAYW implementations, two key characteristics are monitored: the “enfranchisement gap”, which measures the proportionality between political influence and electoral victories, and the “efficiency ratio”, which assesses the utility derived from the allocation of electoral victories on a scale from random allocation (zero) to the social optimum (one). SV-PAYW consistently outperforms pure storable votes in terms of enfranchisement in all cases. Additionally, as a general rule (there are some exceptions), the “efficiency ratio” tends to be higher for SV-PAYW, hovering around 0.7.

Suggested Citation

  • Arturo Macías, 2024. "Storable votes with a “pay as you win” mechanism," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 19(1), pages 121-150, January.
  • Handle: RePEc:spr:jeicoo:v:19:y:2024:i:1:d:10.1007_s11403-024-00407-1
    DOI: 10.1007/s11403-024-00407-1
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1007/s11403-024-00407-1
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.

    File URL: https://libkey.io/10.1007/s11403-024-00407-1?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Casella, Alessandra & Laslier, Jean-François & Macé, Antonin, 2017. "Democracy for Polarized Committees: The Tale of Blotto's Lieutenants," Games and Economic Behavior, Elsevier, vol. 106(C), pages 239-259.
    2. David P. Myatt, 2004. "On the Theory of Strategic Voting," Economics Series Working Papers 186, University of Oxford, Department of Economics.
    3. William Vickrey, 1961. "Counterspeculation, Auctions, And Competitive Sealed Tenders," Journal of Finance, American Finance Association, vol. 16(1), pages 8-37, March.
    4. Kerstin Press, 2007. "When does defection pay?," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 2(1), pages 67-84, June.
    5. Matthew O Jackson & Hugo F Sonnenschein, 2007. "Overcoming Incentive Constraints by Linking Decisions -super-1," Econometrica, Econometric Society, vol. 75(1), pages 241-257, January.
    6. Gian Italo Bischi & Fabio Lamantia, 2022. "Evolutionary oligopoly games with cooperative and aggressive behaviors," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 17(1), pages 3-27, January.
    7. Luigi Marengo & Corrado Pasquali, 2011. "The construction of choice: a computational voting model," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 6(2), pages 139-156, November.
    8. Qiming Lu & G. Korniss & Boleslaw Szymanski, 2009. "The Naming Game in social networks: community formation and consensus engineering," Journal of Economic Interaction and Coordination, Springer;Society for Economic Science with Heterogeneous Interacting Agents, vol. 4(2), pages 221-235, November.
    9. Philippe Mathieu & Jean-Paul Delahaye, 2017. "New Winning Strategies for the Iterated Prisoner's Dilemma," Journal of Artificial Societies and Social Simulation, Journal of Artificial Societies and Social Simulation, vol. 20(4), pages 1-12.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Ezzat Elokda & Saverio Bolognani & Andrea Censi & Florian Dörfler & Emilio Frazzoli, 2024. "A Self-Contained Karma Economy for the Dynamic Allocation of Common Resources," Dynamic Games and Applications, Springer, vol. 14(3), pages 578-610, July.
    2. Kwiek, Maksymilian & Marreiros, Helia & Vlassopoulos, Michael, 2019. "Voting as a war of attrition," Journal of Economic Behavior & Organization, Elsevier, vol. 167(C), pages 104-121.
    3. Aristotelis Boukouras & Kostas Koufopoulos, 2017. "Efficient allocations in economies with asymmetric information when the realized frequency of types is common knowledge," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 64(1), pages 75-98, June.
    4. Alessandra Casella & Antonin Macé, 2021. "Does Vote Trading Improve Welfare?," Annual Review of Economics, Annual Reviews, vol. 13(1), pages 57-86, August.
    5. Dirk Bergemann & Marek Bojko & Paul Dutting & Renato Paes Leme & Haifeng Xu & Song Zuo, 2024. "Data-Driven Mechanism Design: Jointly Eliciting Preferences and Information," Papers 2412.16132, arXiv.org.
    6. Aristotelis Boukouras & Kostas Koufopoulos, 2015. "Efficient Allocations in Economies with Asymmetric Information when the Realized Frequency of Types is Common Knowledge," Discussion Papers in Economics 15/04, Division of Economics, School of Business, University of Leicester.
    7. Schmitz, Patrick W. & Tröger, Thomas, 2006. "Garbled Elections," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 195, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
    8. Yan Dai & Moise Blanchard & Patrick Jaillet, 2025. "Non-Monetary Mechanism Design without Distributional Information: Using Scarce Audits Wisely," Papers 2502.08412, arXiv.org, revised Jun 2025.
    9. Kwiek, Maksymilian, 2017. "Efficient voting with penalties," Games and Economic Behavior, Elsevier, vol. 104(C), pages 468-485.
    10. Sylvain Chassang, 2013. "Calibrated Incentive Contracts," Econometrica, Econometric Society, vol. 81(5), pages 1935-1971, September.
    11. Goeree, Jacob K. & Zhang, Jingjing, 2017. "One man, one bid," Games and Economic Behavior, Elsevier, vol. 101(C), pages 151-171.
    12. Hongpeng Guo & Zhihao Lv & Junyi Hua & Hongxu Yuan & Qingyu Yu, 2021. "Design of Combined Auction Model for Emission Rights of International Forestry Carbon Sequestration and Other Pollutants Based on SMRA," Sustainability, MDPI, vol. 13(20), pages 1-18, October.
    13. Paul Pezanis-Christou & Abdolkarim Sadrieh, 2003. "Elicited bid functions in (a)symmetric first-price auctions," UFAE and IAE Working Papers 578.03, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    14. Ewerhart, Christian & Cassola, Nuno & Valla, Natacha, 2012. "Overbidding in fixed rate tenders: The role of exposure risk," Journal of Banking & Finance, Elsevier, vol. 36(2), pages 539-549.
    15. Tafreshian, Amirmahdi & Masoud, Neda, 2022. "A truthful subsidy scheme for a peer-to-peer ridesharing market with incomplete information," Transportation Research Part B: Methodological, Elsevier, vol. 162(C), pages 130-161.
    16. Bogetoft, Peter & Nielsen, Kurt, 2003. "Yardstick Based Procurement Design In Natural Resource Management," 2003 Annual Meeting, August 16-22, 2003, Durban, South Africa 25910, International Association of Agricultural Economists.
    17. Shunda, Nicholas, 2009. "Auctions with a buy price: The case of reference-dependent preferences," Games and Economic Behavior, Elsevier, vol. 67(2), pages 645-664, November.
    18. Shrestha, Ratna K., 2017. "Menus of price-quantity contracts for inducing the truth in environmental regulation," Journal of Environmental Economics and Management, Elsevier, vol. 83(C), pages 1-7.
    19. Palma, Marco A. & Ness, Meghan L. & Anderson, David P., 2015. "Buying More than Taste? A Latent Class Analysis of Health and Prestige Determinants of Healthy Food," 2015 Conference (59th), February 10-13, 2015, Rotorua, New Zealand 202566, Australian Agricultural and Resource Economics Society.
    20. Monteiro, Paulo Klinger, 2009. "First-price auction symmetric equilibria with a general distribution," Games and Economic Behavior, Elsevier, vol. 65(1), pages 256-269, January.

    More about this item

    Keywords

    Voting mechanisms; Strategic voting; Storable votes; Vote trading;
    All these keywords.

    JEL classification:

    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • F33 - International Economics - - International Finance - - - International Monetary Arrangements and Institutions
    • H4 - Public Economics - - Publicly Provided Goods

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:jeicoo:v:19:y:2024:i:1:d:10.1007_s11403-024-00407-1. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.