Ranked Choice Voting
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Ranked Choice Voting (RCV) functions as a governance mechanism by ensuring elected candidates reflect majority preferences, allowing voters to rank their choices for more representative outcomes.
Originating in the 1850s as a proportional representation system, RCV was adapted for single-winner elections by William Ware in the 1870s. A more contemporary movement for RCV emerged in the early 2000s, addressing the limitations of plurality voting, with support from grassroots initiatives and organizations like FairVote, a nonpartisan group focused on voting reforms that aim to enhance electoral fairness and reduce polarization.
This governance mechanism is ideal for elections, organizational decision-making, and competitive contexts like funding allocation in DAOs. It enhances fair representation and community engagement, making it suitable for any entity seeking to foster trust and encourage active participation in governance.
RCV allows voters to rank candidates by preference and can also function as a funding mechanism, enabling community members to rank proposals for funding allocation. This approach is influenced by traditional runoff elections, which seek a more efficient winner-determination process without separate runoffs; social choice theory, which addresses the fair aggregation of collective preferences; and voter behavior research, which highlights the strategic voting tendencies in plurality systems and the demand for more expressive voting options.
The RCV process begins with voters ranking candidates or proposals in order of preference on their ballots. Each column represents a different ranking position, while the rows correspond to specific candidates or options. Voters must make only one choice per column and cannot skip columns.
Once the ballots are cast, the first-choice votes for each candidate are counted. If a candidate receives more than half of the votes, they win the election. However, if no candidate secures a majority of first-choice votes, the candidate with the fewest votes is eliminated, and their votes are redistributed based on voters’ next preferences until a candidate achieves a majority. This elimination and redistribution process continues until a candidate receives a majority of the votes and is declared the winner.
RCV allows for a nuanced distribution of funding in DAOs and blockchain-based decision-making processes. It promotes inclusivity by reflecting a wider range of voter preferences.
Voters can express true preferences without fear of “wasting” their votes.
Studies indicate that RCV leads to increased voter satisfaction due to more representative outcomes. It fosters the election of candidates who appeal to a broader electorate.