MAJORITY common to voting almost is all an democratic institution co on o lmo t ll democrat c societies, but, as a method of social decision-making, it is vulnerable to attack on several fronts. In this paper I examine some of the well-known shortcomings of majority voting: intransitivity, indecisiveness, and susceptibility to strategic manipulation. Most important, I consider the assertion that majority rule is Pareto inefficient and show that this inefficiency is related to the shape of individuals' utility functions. I also present a result which enables one to predict the direction in which the inefficiency lies. Finally, I show that rank-order voting is likely to improve efficiency. One weakness of majority voting, first enunciated by Condorcet, is its failure, in general, to generate a transitive social ordering of alternatives. Given three alternatives, a, b, and c, a majority of the electorate may prefer a to b and b to c and yet c to a.1 This flaw is far from unique to decision-making by majority rule. As Arrow [1951] has demonstrated, the problem plagues any social choice procedure that satisfies several reasonable conditions. More seriously, majority voting may be non-decisive; a vote may fail to produce a majority winner at all. Non-decisiveness has two possible senses. One is simply that, with more than two candidates on the ballot, none may capture over fifty percent of the vote. Thus, there was concern in the 1968 U.S. Presidential election that George Wallace's presence would prevent either of the real contenders, Richard Nixon and Hubert Humphrey, from obtaining a majority. A second interpretation is that no candidate may emerge victorious even in pair-wise competition against the other alternatives. A pair-wise majority winner was presumably not absent in the 1968 election. That is, most likely Nixon would