This week I went a bit deeper into voting theory to understand how we can improve voting in DAOs.
Hare vs. Coombs Instant Runoff Voting: Instant Runoff Voting is a voting method that asks voters to rank candidates in order of their preference. Every round one candidate is removed until only the winner is left. In the Hare system, the candidate with the fewest first-place ranks is removed each round. The Coombs system eliminates the candidate with the most last-place ranks each round.
The Minimax method is a method used for determining a winner in a ranked choice vote. It is a type of Condorcet method. The best known Condorcet method uses pairwise comparisons to determine which candidate wins most head to head comparisons. The Minimax method is slightly different as it crowns the candidate who has the smallest loss in any of the head to head comparisons. Or put in another way, the candidate who has the highest support when losing.
A plurality runoff election is a two-round election system where an initial vote is followed by a runoff election between the top two candidates. I have not seen this applied in the context of DAOs yet, but it is an interesting, and potentially easier to understand, alternative to ranked choice votes with a large number of alternatives.
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