Benford’s Law and Naturally Occurring Prices in Certain ebaY Auctions
We show that certain the winning bids for certain ebaY auctions obey Benford’s Law. One implication of this is that it is unlikely that these bids are subject 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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