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

Preprint OPEN
David E. Giles;
(2005)
  • Subject: Benford’s Law, auction prices, football, Kuiper test, Watson test
    • jel: jel:C12 | jel:D44 | jel:C16 | jel:C14
    acm: TheoryofComputation_GENERAL | ComputingMilieux_COMPUTERSANDSOCIETY

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 fr... View more
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    '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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