Would you say that your intuitive rankings can be approximated as follows?
• You have a utility uᵢ for each candidate, which is “how much you like them”.
• You estimate the probability pᵢ for each candidate to win.
• So your average (expected value) utility for the election is m = ∑(pᵢ * uᵢ).
• You ascribe to each candidate a “utility leverage” xᵢ = (uᵢ - m) * pᵢ, which is the expected amount of extra utility that candidate is worth to you above (or below if negative) the average.
• You feel intuitively compelled to rank the candidates in order of decreasing utility leverage xᵢ.
Is that about right?
It’s what I devised for my simulation, to generalize the idea of exaggerating front-runners. Candidates who are more likely to win end up farther from the mean (on the same side they already are), while those less likely to win get pulled in toward the middle.
So if you like your favorite enough that your second choice is “below average”, then the fact they are the most likely to win makes their leverage strongly negative.
I also have a related version for strategic *rated* ballots, which uses the concept of utility leverage in a somewhat different way. I haven’t thought about allocated ballot much, but there’s probably a way to make the same idea work for those as well.
Nevin
ps. If the subscript letter ‘i’ doesn’t show up in what I wrote, it means some part of the web didn’t handle Unicode properly (or it’s being displayed in an outdated font).