VotingVoting is a method by which a group, such as a meeting or an electorate, convenes together for the purpose of making a collective decision or expressing an opinion usually following discussions, debates or election campaigns. Democracies elect holders of high office by voting. Residents of a jurisdiction represented by an elected official are called "constituents", and the constituents who choose to cast a ballot for their chosen candidate are called "voters.
Single transferable voteThe single transferable vote (STV) is a multi-winner electoral system in which each voter casts a single vote in the form of a ranked-choice ballot. Voters have the option to rank candidates, and their vote may be transferred according to alternate preferences if their preferred candidate is eliminated or elected with surplus votes, so that their vote is used to elect someone they prefer over others in the running. STV aims to approach proportional representation based on votes cast in the district where it is used, so that each vote is worth about the same as another.
Condorcet methodA Condorcet method (pronkɒndɔrˈseɪ; kɔ̃dɔʁsɛ) is an election method that elects the candidate who wins a majority of the vote in every head-to-head election against each of the other candidates, that is, a candidate preferred by more voters than any others, whenever there is such a candidate. A candidate with this property, the pairwise champion or beats-all winner, is formally called the Condorcet winner. The head-to-head elections need not be done separately; a voter's choice within any given pair can be determined from the ranking.
Instant-runoff votingInstant-runoff voting (IRV) is an electoral system that uses ranked voting. Its purpose is to elect the majority choice in single-member districts in which there are more than two candidates and thus help ensure majority rule. It is a single-winner version of single transferable voting. Formerly the term "instant-runoff voting" was used for what many people now call contingent voting or supplementary vote.
Contingent voteThe contingent vote is an electoral system used to elect a single representative in which a candidate requires a majority of votes to win. It is a variation of instant-runoff voting (IRV). Under the contingent vote, the voter ranks the candidates in order of preference, and the first preference votes are counted. If no candidate has a majority (more than half the votes cast), then all but the two leading candidates are eliminated and the votes received by the eliminated candidates are distributed among the two remaining candidates according to voters' preferences.
Strategic votingStrategic voting, also called tactical voting, sophisticated voting or insincere voting, occurs in voting systems when a voter votes for a candidate or party other than their sincere preference to prevent an undesirable outcome. For example, in a simple plurality election, a voter might gain a better outcome by voting for a less preferred but more generally popular candidate. Gibbard's theorem shows that all single-winner voting methods encourage strategic voting, unless there are only two options or dictatorial (i.
Spoilt voteIn voting, a ballot is considered spoilt, spoiled, void, null, informal, invalid or stray if a law declares or an election authority determines that it is invalid and thus not included in the vote count. This may occur accidentally or deliberately. The total number of spoilt votes in a United States election has been called the residual vote. In Australia, such votes are generally referred to as informal votes, and in Canada they are referred to as rejected votes. In some jurisdictions spoilt votes are counted and reported.
Borda countThe Borda count is a family of positional voting rules which gives each candidate, for each ballot, a number of points corresponding to the number of candidates ranked lower. In the original variant, the lowest-ranked candidate gets 0 points, the next-lowest gets 1 point, etc., and the highest-ranked candidate gets n − 1 points, where n is the number of candidates. Once all votes have been counted, the option or candidate with the most points is the winner.
Vote countingVote counting is the process of counting votes in an election. It can be done manually or by machines. In the United States, the compilation of election returns and validation of the outcome that forms the basis of the official results is called canvassing. Counts are simplest in elections where just one choice is on the ballot, and these are often counted manually. In elections where many choices are on the same ballot, counts are often done by computers to give quick results.
Wasted voteIn electoral systems, a wasted vote is any vote that does not receive representation in the final election outcome. This includes lost votes for a losing candidate or party, and excess votes for winning candidates in excess of the minimum needed to win. When applied to ranked-vote systems, it includes exhausted votes, votes where none of the candidates the voter ranked are elected. Wasted vote share changes from one election to another depending on voter behavior. Wasted votes can lead to political apathy.
InterestIn finance and economics, interest is payment from a borrower or deposit-taking financial institution to a lender or depositor of an amount above repayment of the principal sum (that is, the amount borrowed), at a particular rate. It is distinct from a fee which the borrower may pay to the lender or some third party. It is also distinct from dividend which is paid by a company to its shareholders (owners) from its profit or reserve, but not at a particular rate decided beforehand, rather on a pro rata basis as a share in the reward gained by risk taking entrepreneurs when the revenue earned exceeds the total costs.
Plurality block votingPlurality block voting, also known as plurality-at-large voting, bloc vote or block voting (BV) is a non-proportional voting system for electing representatives in multi-winner elections. Each voter may cast as many votes as the number of seats to be filled. The usual result when the candidates divide into parties is that the most popular party in the district sees its full slate of candidates elected in a seemingly landslide victory.
Condorcet winner criterionAn electoral system satisfies the Condorcet winner criterion (pronkɒndɔrˈseɪ) if it always chooses the Condorcet winner when one exists. The candidate who wins a majority of the vote in every head-to-head election against each of the other candidates - that is, a candidate preferred by more voters than any others - is the Condorcet winner, although Condorcet winners do not exist in all cases. It is sometimes simply referred to as the "Condorcet criterion", though it is very different from the "Condorcet loser criterion".
Schulze methodThe Schulze method (ˈʃʊltsə) is an electoral system developed in 1997 by Markus Schulze that selects a single winner using votes that express preferences. The method can also be used to create a sorted list of winners. The Schulze method is also known as Schwartz Sequential dropping (SSD), cloneproof Schwartz sequential dropping (CSSD), the beatpath method, beatpath winner, path voting, and path winner.
One man, one vote"One man, one vote", or "one person, one vote", expresses the principle of equal representation in voting. This slogan is used by advocates of democracy and political equality, especially with regard to electoral reforms like universal suffrage and proportional representation. The violation of equal representation in the various systems of proportional representation can be measured with the Loosemore–Hanby index, the Gallagher index, or the amount of wasted vote.
Two-round systemThe two-round system (TRS), also known as runoff voting, second ballot, or ballotage, is a voting method used to elect a single candidate, where voters cast a single vote for their preferred candidate. It generally ensures a majoritarian result, not a simple-plurality result as under first past the post. Under the two-round election system, the election process usually proceeds to a second round only if in the first round no candidate received a simple majority (more than 50%) of votes cast, or some other lower prescribed percentage.
Compound interestCompound interest is the addition of interest to the principal sum of a loan or deposit, or in other words, interest on principal plus interest. It is the result of reinvesting interest, or adding it to the loaned capital rather than paying it out, or requiring payment from borrower, so that interest in the next period is then earned on the principal sum plus previously accumulated interest. Compound interest is standard in finance and economics.
Majority ruleMajority rule is the principle that the group that has the most supporters gets its way. A majority is more than half of the voters involved, and rule by such a majority is thought to be to the benefit of more than rule by less than half (a mere minority) would be. Majority rule is the binary decision rule most often used in decision-making bodies, including many legislatures of democratic nations. Where no one party wins a majority of the seats in a legislature, the majority of legislators that wields power is partly composed of members of other parties in support.
Plurality votingPlurality voting refers to electoral systems in which a candidate(s), who poll more than any other counterpart (that is, receive a plurality), are elected. In systems based on single-member districts, it elects just one member per district and may also be referred to as first-past-the-post (FPTP), single-member plurality (SMP/SMDP), single-choice voting (an imprecise term as non-plurality voting systems may also use a single choice), simple plurality or relative majority (as opposed to an absolute majority, where more than half of votes is needed, this is called majority voting).
Interest rateAn interest rate is the amount of interest due per period, as a proportion of the amount lent, deposited, or borrowed (called the principal sum). The total interest on an amount lent or borrowed depends on the principal sum, the interest rate, the compounding frequency, and the length of time over which it is lent, deposited, or borrowed. The annual interest rate is the rate over a period of one year. Other interest rates apply over different periods, such as a month or a day, but they are usually annualized.
