Wang, Ruqu; Dinlersoz, Emin Murat; Bag, Parimal Kanti - In: Economic Theory 15 (2000) 3, pp. 701-707
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 …