http://www.mssqlcity.com/Articles/General/TIL.htm  defines (from SQL Server 
reference) that SERIALIBLE is as follows:


anonymous wrote : 
  | Phantom behavior occurs when a transaction attempts to select a row that
  | does not exist and a second transaction inserts the row before the first
  | transaction finishes. If the row is inserted, the row appears as a phantom
  | to the first transaction, inconsistently appearing and disappearing.

In my case, the "Select of a row that does not exist" is the reading of null.


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