preferential voting

noun
variants: or less commonly preferential system

Definition of preferential voting 

: a system of voting whereby the voter indicates his order of preference for each of the candidates listed on the ballot for a specified office so that if no candidate receives a majority of first preferences the first and second preferences and if necessary third and other preferences may be counted together until one candidate obtains a majority

called also alternative vote

— compare hare system, proportional representation

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