Benford's law and naturally occurring prices in certain ebaY auctions
We show that certain winning bids for certain ebaY auctions obey Benford's Law. One implication of this is that it is unlikely that these bids are subjected to collusion among bidders, or 'shilling' on the part of sellers. Parenthetically, we also show that numbers from the naturally occurring Fibonacci and Lucas sequences also obey Benford's Law.
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Volume (Year): 14 (2007)
Issue (Month): 3 ()
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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Giles, David E., 2005. "Testing for a Santa Claus effect in growth cycles," Economics Letters, Elsevier, vol. 87(3), pages 421-426, June.
- Pietronero, L. & Tosatti, E. & Tosatti, V. & Vespignani, A., 2001. "Explaining the uneven distribution of numbers in nature: the laws of Benford and Zipf," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 293(1), pages 297-304.
- De Ceuster, Marc J. K. & Dhaene, Geert & Schatteman, Tom, 1998. "On the hypothesis of psychological barriers in stock markets and Benford's Law," Journal of Empirical Finance, Elsevier, vol. 5(3), pages 263-279, September.
- Canessa, Enrique, 2003. "Theory of analogous force on number sets," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 328(1), pages 44-52.
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