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How to calculate reputation scores?

Many web sites have an article/message/user reputation based on the up or down votes the article/message/user receives. How is a reputation score calculated given only up and down votes? (The user is not presented with a 1 to 5 scale for scoring something.)
( 2 comments | 2 points | on HN )
Re:How to calculate reputation scores? by edwyr on Tuesday May 22, 2012 @02:55PM (#4009292)
Re:How to calculate reputation scores? by edwyr on Tuesday May 22, 2012 @03:29PM (#4009504)