Effectiveness of dynamic value voting

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Abstract
This paper evaluates the effectiveness of ‘dynamic value voting’ when used by a group in making a sequence of decisions. The essential and novel characteristic of this group decision-making procedure is the use of ‘flotes’, a kind of currency that enables each group member to weight each of his votes in accordance with his estimate of the relative importance of the current decision in comparison with future decisions the group will be making. It is shown by computer simulation and mathematical analysis that groups do well using dynamic value voting when contrasted with results achieved using ordinary majority voting and related ordering procedures. The procedure is also suitable for use by an individual, or a group, for a multi-attribute decision application – where the flote allocations reflect anticipated changes in relative importance of individual attributes over time. Dynamic value voting has been used by groups interacting entirely by computer conferencing, with individual members geographically dispersed. The procedure is especially attractive for this type of modern communication and decision system.

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