Convergence of the quantile admission process with veto power

The quantile admission process with veto power is a stochastic process suggested by Alon, Feldman, Mansour, Oren and Tennenholtz as a model for the evolution of an exclusive social club. Each member is represented by a real number (his opinion). On every round two new candidates, holding i.i.d. μ-distributed opinions, apply for admission. The one whose opinion is minimal is then admitted if the percentage of current members closer in their opinion to his is at least r; otherwise, neither is admitted.