Posts Tagged ‘Benford’s Law’

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    Benford’s Law and Greece

    Sep 22, 11 • 110 Views • Behavioral Economics, Businesses, Financial Markets, Government, International Trade and Finance, Macroeconomic Measurement, Thinking EconomicallyNo Comments

    Does it matter that low first digits occur more frequently? First some history. During the 1920s, Frank Benford, a physicist at GE, noticed that “one” appeared more frequently as the first digit of a number. To test his thesis, he accumulated...