More on phantom bidding

A phantom bidding model is analyzed for a sale auction. The following issues are addressed: the effects of phantom bidding on overall social welfare and buyers' profits. It is shown that social welfare may increase or decrease as the auctioneer switches from the fixed reserve price policy to phantom bidding. The buyers' profits will increase whenever social welfare increases.

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Year of publication:	2000-04-13
Authors:	Wang, Ruqu ; Dinlersoz, Emin Murat ; Bag, Parimal Kanti
Published in:	Economic Theory. - Springer. - Vol. 15.2000, 3, p. 701-707
Publisher:	Springer
Subject:	English auction \| Phantom bidding \| Fixed/flexible reserve price

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Extent:	application/pdf
Type of publication:	Article
Notes:	Received: November 4, 1998; revised version: February 8, 1999
Classification:	D44 - Auctions
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005597799