Rank Maximal Equal Contribution: A Probabilistic Social Choice Function
Keywords:algorithms, game theory, social choice theory, probabilistic social choice, voting mechanisms, random serial dictatorship, ex post efficient, participation, fairness
When aggregating preferences of agents via voting, two desirable goals are to incentivize agents to participate in the voting process and then identify outcomes that are Pareto efficient. We consider participation as formalized by Brandl, Brandt, and Hofbauer (2015) based on the stochastic dominance (SD) relation. We formulate a new rule called RMEC (Rank Maximal Equal Contribution) that is polynomial-time computable, ex post efficient and satisfies the strongest notion of participation. It also satisfies many other desirable fairness properties. The rule suggests a general approach to achieving very strong participation, ex post efficiency and fairness.