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The paper provides an analysis of the voting method known as delegable proxyvoting, or liquid democracy. The analysis first positions liquid democracywithin the theory of binary aggregation. It then focuses on two issues of thesystem: the occurrence of delegation cycles; and the effect of delegations onindividual rationality when voting on logically interdependent propositions. Itfinally points to proposals on how the system may be modified in order toaddress the above issues.

Binary Voting with Delegable Proxy: An Analysis of Liquid Democracy