View Complete Reference

Tichenor, C and Davis, B (2008)

The Applicability of Benfordís Law to the buying Behavior of Foreign Military Sales Customers

Global Journal of Business Research 2(2), 77-85.

ISSN/ISBN: 1931-0277 DOI: Not available at this time.



Abstract: The forces of natural law selection prompt animal species to make preference decisions to maximize their survival utility. Those species making decisions in this way survive, and those which do not tend towards extinction. This process appears to follow a decreasing marginal utility trend with a logarithmic probability distribution, which is identical to Benfordís Law. This suggests that Benfordís Law is a descriptive statistic of this natural selection process. Additionally, the customers of the Defense Security Cooperation Agencyís foreign military sales program presumably also attempt to optimize their survival utility, and exhibit purchasing patterns correlating strongly with Benfordís Law. The purpose of this paper is to examine how a mathematical phenomenon, Benfordís Law, may prove to be a useful means of understanding the buying behavior of DSCAís foreign customers. This paper also suggests an informal proof of Benfordís Law.


Bibtex:
@article {, AUTHOR = {Tichenor, Charley, and Bobby Davis}, TITLE = {The Applicability Of Benford's Law To The Buying Behavior Of Foreign Military Sales Customers}, JOURNAL = {Global Journal Of Business Research}, YEAR = {2008}, VOLUME = {2}, NUMBER = {2}, PAGES = {77--85}, ISSN = {1931-0277}, URL = {http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1543525}, }


Reference Type: Journal Article

Subject Area(s): Biology, General Interest, Psychology