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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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File URL: http://www.uvic.ca/socialsciences/economics/assets/docs/econometrics/ewp0505.pdf
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Paper provided by Department of Economics, University of Victoria in its series Econometrics Working Papers with number 0505.

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Length: 10 pages
Date of creation: 17 May 2005
Date of revision:
Handle: RePEc:vic:vicewp:0505
Note: ISSN 1485-6441
Contact details of provider: Postal: PO Box 1700, STN CSC, Victoria, BC, Canada, V8W 2Y2
Phone: (250)721-6197
Fax: (250)721-6214
Web page: http://web.uvic.ca/econ

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  1. Canessa, Enrique, 2003. "Theory of analogous force on number sets," Physica A: Statistical Mechanics and its Applications, Elsevier, vol. 328(1), pages 44-52.
  2. 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.
  3. Giles, David E., 2005. "Testing for a Santa Claus effect in growth cycles," Economics Letters, Elsevier, vol. 87(3), pages 421-426, June.
  4. 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.
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