"Evidence for the Irrationality of Governmental Policy"
We examine three measures of governmental policy: state gasoline taxes, the federal discount rate, and the prime of interest rate (which though set by banks is subject to political influence). All three variables show evidence of irrationality: they are not scale invariant (and thus violate Benford's Law) and show an aversion to use of the ten.
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|Date of creation:||1998|
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