In Farrell and Maskin (1989), the authors present sufficient conditions for weakly renegotiation-proof payoffs in their Theorem 1 (p. 332). We show that a step in the proof of this theorem is not correct by giving a counterexample. Nevertheless, the sufficient conditions remain true, and we...

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....