Another interesting scenario. Let's say that the conclave elected a layman, and the layman accepted the election.
But, then, let's say that, as time went on, this layman didn't want to be ordained and consecrated. Would the electors have the right to repeal the election and designate another? I argue that they would ... just like a non-consummated marriage can be annulled. This would be the case where he's only a material pope but never becomes a formal pope, and as a purely-material pope, the material aspect, i.e. the designation, can be repealed or revoked. Or, alternatively, the pope's refusal to be ordained could be understood as implicit refusal of the office.