Choosing the rules for consensus standardization
研究了共识标准化中无补偿谈判导致的消耗战,比较了随机选择与消耗战的效率,并探讨了中立者打破僵局及减少利益关联对激励的影响。
Consensus standardization often involves bargaining without side payments or substantive compromise, creating a war of attrition that selects through delay. We investigate the trade‐off between screening and delay when this process selects for socially valuable but privately observed quality. Immediate random choice may outperform the war of attrition, or vice versa. Allowing an uninformed neutral player to break deadlocks can improve on both mechanisms. Policies that reduce players’ vested interest, and hence delays, can strengthen the ex ante incentive to improve proposals.