Weighted voting is the commonly used strategy for combining predictions in pairwise classification. Even though it shows excellent performance in practice, it is often criticized for lacking a sound theoretical justification. In this paper, we study the problem of combining predictions within a formal framework of label ranking. In this framework, we derive a generalized voting strategy in which predictions are properly adapted according to the strength of the corresponding base classifiers, and which is optimal in the sense of yielding a MAP prediction. Then, we show that weighted voting yields a good approximation of this MAP prediction. This theoretical argument in favor of weighted voting as a quasi-optimal aggregation strategy is further corroborated by empirical evidence from experiments with real and synthetic data sets.