what are it’s advantages? Heard of it on Eric Weinsteins podcast, bonus points for more detail and for presenting other interesting ideas/concepts in the ‘social technology’ space as vitalik buterin puts it
In: Mathematics
Let’s say we have an election where we’re choosing one of: Biden, Patrick, Sanders, Warren or Yang.
We give each voter 50 credits.
Now, they can spend these credits as they like, under the following scheme:
1 vote for a candidate costs 1^2 = 1 credit
2 votes for a candidate costs 2^2 = 4 credits
3 votes for a candidate costs 3^2 = 9 credits
4 votes for a candidate costs 4^2 = 16 credits
5 voters for a candidate costs 5^2 = 25 credits
etc…
Maybe I really like Yang. I can spend 49 credits to give him 7 votes and no votes to anyone else.
But you only like Yang a little bit – you like Sanders and Warren more. So you give Yang 3 votes (costs 9), Sanders 4 votes (costs 16) and Warren 5 votes (costs 25). You haven’t expressed as strong a preference as I have for the primary candidate, but you’ve actually cast more votes in total (I cast 7 votes, you cast 12) because you’ve spread them out.
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