On the Properties of Voting Systems

The article focuses on the problem of choosing the 'best' voting procedure for making collective decisions. The procedures discussed are simple majority rule, Borda count, approval voting, and maximin method. The first three have been axiomatized while the maximin method has not yet been given an axiomatic characterization. The properties, in terms of which the goodness of the procedures is assessed, are dictatorship, consistency, path independence, weak axiom of revealed preference, Pareto optimality, and manipulability. It turns out that the picture emerging from the comparison of the procedures in terms of these properties is most favorable to the approval voting.