Thursday, October 20, 2011

Why voting is rational

Assume the value of difference between two candidates is half a trillion dollar (reasonable with crises, iraq etc.).

With twenty or less million votes being critical, the probability of a. Sngle vote changing who is president is 1/20,000,000. 

The expected value of a single vote is the soceity value ($500,000,000,000) times teh probability of the vote being pivotal. * 1/20,000,000

==== $25,000 value of a single vote. 

This is the value for soceity.

Thus, if voters care about their soceity as a whole, they are very reasonable in spending one. Hour to vote and giving. The public $25,000 in value.

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