publication . Preprint . 2005

Benford’s Law and Naturally Occurring Prices in Certain ebaY Auctions

David E. Giles;
Open Access
  • Published: 17 May 2005
Abstract
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.
Subjects
ACM Computing Classification System: TheoryofComputation_GENERALComputingMilieux_COMPUTERSANDSOCIETY
free text keywords: Benford’s Law, auction prices, football, Kuiper test, Watson test, jel:C12, jel:C14, jel:C16, jel:D44

'n' is quite small. For example, for n = 8, 9, 10 we have L = 47, 76, 123; and φ n = 46.971, 75.999 and 123.046.

See McMinn (2003), and Scott (undated). Also, in a sequence of 'n' equal resistors, connected alternately in series and in parallel, then Limitn→∞ [Total resistance] = φ . If

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