Last digit tendency: Lucky number and psychological rounding in mobile transactions

• Main Authors: WANG, Hai, LU, Tian, ZHANG, Yingjie, WU, Yue, SUN, Yiheng, DONG, Jingran, HUANG, Wen
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2024
• Subjects: last digit; lucky number; psychological rounding; mobile transaction; Numerical Analysis and Scientific Computing
• Online Access: https://ink.library.smu.edu.sg/sis_research/8539; https://ink.library.smu.edu.sg/context/sis_research/article/9542/viewcontent/LastDigitTendency_pvoa_cc_by_nc_nd.pdf
• Institution: Singapore Management University

The distribution of digits in numbers obtained from different sources reveals interesting patterns. The well-known Benford’s law states that the first digits in many real-life numerical data sets have an asymmetric, logarithmic distribution in which small digits are more common; this asymmetry dimin...