In referendum elections, voters are frequently required to register simultaneous
yes/no votes on multiple proposals. The separability problem occurs when a voter’s
preferred outcome on a proposal or set of proposals depends on the known or
predicted outcomes of other proposals in the election. Here we investigate
cost-consciousness as a potential cause of nonseparability. We develop a mathematical
model of cost-consciousness, and we show that this model induces nonseparable
preferences in all but the most extreme cases. We show that when outcome costs are
distinct, cost-conscious electorates always exhibit both a weak Condorcet winner and
a weak Condorcet loser. Finally, we show that preferences consistent with our
model of cost-consciousness are rare in randomly generated electorates. We
then discuss the implications of our work and suggest directions for further
research.