More on Phantom Bidding

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 ph...

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Veröffentlicht in:Economic theory 2000-05, Vol.15 (3), p.701-707
Hauptverfasser: Bag, Parimal Kanti, Dinlersoz, Emin Murat, Wang, Ruqu
Format: Artikel
Sprache:eng
Schlagworte:
Auctioneers
Auctions
Bidding
Business orders
Economic theory
Exposita Notes
Social welfare
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Beschreibung
Zusammenfassung: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.
ISSN:0938-2259
1432-0479
DOI:10.1007/s001990050319