Thanks for writing this. You clearly explained the collusion problem.
Is there much experimental/real-world data out there around how QV performs in practice?
We have laws against insider trading. Similarly, we can create laws against collusion (we already have anti-collusion laws for 1P1V), at least to discourage it. Eliminating collusion and insider trading is impossible, but laws nevertheless do a good job discouraging such actions.
I read Radical Markets recently and liked it. It’s written by Eric Posner and Glen Weyl, who are experts on mechanism design. The works of Vickrey inspire their ideas. They talk at length about QV. They highlight that with QV, people are expected to feel a lesser need to ‘scream’. Under 1P1V, you’ve got a single vote, so you better make it count, so you’re incentivised to ‘scream’. This potentially incentivises polarisation within democratic systems. This is one of the things that stood out for me from the book.
There might be some clues from “Standard Voting Power Indexes Do Not Work: An Empirical Analysis” that claims population^0.9 is closer to US political reality, http://www.stat.columbia.edu/~gelman/research/published/gelmankatzbafumi.pdf However a major critique of this, is that the American political system is not as diverse as the European system.
Thanks for writing this. You clearly explained the collusion problem.
Is there much experimental/real-world data out there around how QV performs in practice?
We have laws against insider trading. Similarly, we can create laws against collusion (we already have anti-collusion laws for 1P1V), at least to discourage it. Eliminating collusion and insider trading is impossible, but laws nevertheless do a good job discouraging such actions.
I read Radical Markets recently and liked it. It’s written by Eric Posner and Glen Weyl, who are experts on mechanism design. The works of Vickrey inspire their ideas. They talk at length about QV. They highlight that with QV, people are expected to feel a lesser need to ‘scream’. Under 1P1V, you’ve got a single vote, so you better make it count, so you’re incentivised to ‘scream’. This potentially incentivises polarisation within democratic systems. This is one of the things that stood out for me from the book.
There might be some clues from “Standard Voting Power Indexes Do Not Work: An Empirical Analysis” that claims population^0.9 is closer to US political reality, http://www.stat.columbia.edu/~gelman/research/published/gelmankatzbafumi.pdf However a major critique of this, is that the American political system is not as diverse as the European system.