ECON 103 Lecture Notes - Lecture 11: Public Choice, Price Ceiling, Gordon Tullock
20 Jun 2017
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Condorcet winner: an option that will always win no matter how the vote is taken. Condorcet loser: an option that will always lose no matter how the vote is taken. Apples are the condorcet winner in the below chart: Dollar signs show the intensity of preference (frank prefers cantaloupes over apples) however he due to the voting system for group preference, he gets apples. Apples have a numerical vote over the other (don and eve have it as their first pick) so they would win but it"s also possible cantaloupes would win because of how high frank"s intensity is with it. Voting decides the top preference of each voter but does not reveal the intensity with which that preference is held. If you have more than two candidates in a general election, if one of those candidates gets majority of the votes then they win.
