From Bottom of the Barrel to Cream of the Crop: Sequential Screening With Positive Selection
研究了在正向选择环境下动态筛选的时间一致性，给出了委托人承诺最优解成立的条件，并推导出永久或暂时冲击下的可检验预测。
In a number of interesting environments, dynamic screening involves positive selection: in contrast with Coasian dynamics, only the most motivated remain over time. The paper provides conditions under which the principal's commitment optimum is time consistent and uses this result to derive testable predictions under permanent or transient shocks. It also identifies environments in which time consistency does not hold despite positive selection, and yet simple equilibrium characterizations can be obtained.