Quote from: plunder on April 20, 2015, 06:42:31 pm

Quote from: tonyk2 on April 20, 2015, 06:33:38 pm

That is quite a novice approach indeed. In most economic models it is assumed that the actors behave rationally. In most models it will be assumed that everybody will vote for the delegate producing the most value... In your theory though all actors will NOT find delegates producing value, so they will vote for the next 'best' thing - the delegate giving them more coins/shares in the enterprise with ever reducing total valuation...

BTW this logic is failing at one more point -  instead of voting the way you expect they  will do, they will be better off just selling (instead of voting).

You are both factually incorrect and missing the point:

Quote from: plunder on April 20, 2015, 06:19:36 pm

Sure: all else being equal, selfish stakeholders would rather vote for a 100% delegate that kicks back their profits (or a portion thereof) to voters than to vote for a 0% delegate.

You are missing reality though, we've been running Bitshares for nearly a year now and no delegates are running kick-back programs and the ones that tried never got any traction..

Could you please explain this part about BitShares delegates:

"Most likely these entities would pay a dividend to voting accounts"