With all due respect, it sounds like while it might fight flaws common to other voting systems, pay-back based voting will have its own gamesmanship.
Consider 1,000 voters upwind of a factory and 1,000 more voters downwind. Suppose the factory wants to stop scrubbing its exhaust for a savings of $1,000 (to itself) and cost of $10 to each down-wind voter (in health costs). All the factory has to do is propose the same initiative (to allow the removal of regulation) again and again and not vote that much. Each time the down-wind people try to protect their selves they transfer money to up-wind abstainers. After enough rounds of this the down-winders are impoverished and the factory buys the election cheaply.
Edit: and instead of voting large the factory could try to bribe the up-wind voters or a faction of the down-wind voters.
Consider 1,000 voters upwind of a factory and 1,000 more voters downwind. Suppose the factory wants to stop scrubbing its exhaust for a savings of $1,000 (to itself) and cost of $10 to each down-wind voter (in health costs). All the factory has to do is propose the same initiative (to allow the removal of regulation) again and again and not vote that much. Each time the down-wind people try to protect their selves they transfer money to up-wind abstainers. After enough rounds of this the down-winders are impoverished and the factory buys the election cheaply.
Edit: and instead of voting large the factory could try to bribe the up-wind voters or a faction of the down-wind voters.