Benford's law and naturally occurring prices in certain ebaY auctions
David Giles
Applied Economics Letters, 2007, vol. 14, issue 3, 157-161
Abstract:
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.
Date: 2007
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Persistent link: https://EconPapers.repec.org/RePEc:taf:apeclt:v:14:y:2007:i:3:p:157-161
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DOI: 10.1080/13504850500425667
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