More on phantom bidding
AbstractA 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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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 15 (2000)
Issue (Month): 3 ()
Note: Received: November 4, 1998; revised version: February 8, 1999
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Web page: http://link.springer.de/link/service/journals/00199/index.htm
Other versions of this item:
- D44 - Microeconomics - - Market Structure and Pricing - - - Auctions
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- Itai Sher, 2012.
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