I usually abstain from voting because my perceived benefits (P * B) minus costs (C) typically suggest that it's not in my self-interest to vote. However, I made an exception during a recent fraternity vote to raise dues. The proposal was to increase our $950 semester dues by $50 per person, allocating the extra money to biweekly catered meals and an extra date function. Although I'm typically frugal, I realized that despite the low probability of influencing the outcome (My P was 1/40 or about 2.5%), the benefit (B) was substantial – approximately $100. This was due to the added convenience of six meals on Sunday evenings during the semester, sparing me the need to go to the dining hall or cook, the benefit I derive from having dinner with my friends, and finally the benefit of having a fun evening with my date and friends at the date function.
What swayed my decision was the relatively high perceived cost (D) of not voting. The voting process was public, so abstaining would have subjected me to social pressure and raised questions about my civic duty (in regard to my fraternity), as my vote could impact future semesters. I estimated my D value at $60, with $40 attributed to social pressure and $20 to civic duty. My voting cost was minimal, about $2.50, given my hourly wage of $15 multiplied by 10 minutes (⅙) thinking about my decision and filling out the voting form. Ultimately, my vote's value was $60 (1/40 * 100 + 60 - 2.5), and this number was driven primarily by the substantial D value, as PB and C canceled each other out. And since my value is significantly higher than 0, it is in my best self-interest to cast a vote for this particular instance.
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