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Quadratic voting with multiple alternatives

Author

Listed:
  • Eguia, Jon

    () (Michigan State University, Department of Economics)

  • Immorlica, Nicole

    () (Microsoft)

  • Ligett, Katrina

    () (Hebrew University)

  • Weyl, Glen

    () (Microsoft and Princeton)

  • Xefteris, Dimitrios

    () (University Cyprus)

Abstract

Consider the following collective choice problem: a society of budget-constrained agents faces multiple alternatives and wants to reach an e¢ cient decision (i.e. to Nash implement the utilitarian maximum). In this paper, we propose a budget-balanced vote-buying mechanism for this setting: for each alternative, every voter can cast any number of votes, x, in support or against it, by transferring an amount x2 to the rest of the voters; and the outcome is determined by the net vote totals. We prove that as the society grows large, in every equilibrium of the mechanism, each agent's transfer converges to zero, and the probability that the mechanism chooses the socially efficient outcome converges to one.

Suggested Citation

  • Eguia, Jon & Immorlica, Nicole & Ligett, Katrina & Weyl, Glen & Xefteris, Dimitrios, 2019. "Quadratic voting with multiple alternatives," Working Papers 2019-1, Michigan State University, Department of Economics.
  • Handle: RePEc:ris:msuecw:2019_001
    as

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    File URL: http://econ.msu.edu/repec/wp/QuadMultAltshort19.pdf
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    References listed on IDEAS

    as
    1. Vijay Krishna & John Morgan, 2015. "Majority Rule and Utilitarian Welfare," American Economic Journal: Microeconomics, American Economic Association, vol. 7(4), pages 339-375, November.
    2. Matthew O. Jackson, 1992. "Implementation in Undominated Strategies: A Look at Bounded Mechanisms," Review of Economic Studies, Oxford University Press, vol. 59(4), pages 757-775.
    3. Eric Maskin, 1999. "Nash Equilibrium and Welfare Optimality," Review of Economic Studies, Oxford University Press, vol. 66(1), pages 23-38.
    4. Edward Clarke, 1971. "Multipart pricing of public goods," Public Choice, Springer, vol. 11(1), pages 17-33, September.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    implementation; efficiency; mechanism design; quadratic voting; multiple alternatives;

    JEL classification:

    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D72 - Microeconomics - - Analysis of Collective Decision-Making - - - Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior

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