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

题目Last digit tendency: Lucky numbers and psychological rounding in mobile transactions
作者Wang, Hai Lu, Tian Zhang, Yingjie Wu, Yue Sun, Yiheng Dong, Jingran Huang, Wen
作者单位Singapore Management Univ, Sch Comp & Informat Syst, Singapore 178902, Singapore Arizona State Univ, WP Carey Sch Business, Tempe, AZ 85287 USA Peking Univ, Guanghua Sch Management, Mkt, Beijing 100871, Peoples R China Tencent Weixin Grp, Shenzhen 518054, Peoples R China
关键词：BENFORDS LAW IMPACT PRICE SUPERSTITION
时间：2025年1月1日
出版者：FUNDAMENTAL RESEARCH
摘要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 diminishes for subsequent digits, and the last digit tends to be uniformly distributed. In this paper, we investigate the digit distribution of numbers in a large mobile transaction data set with 835 million mobile transactions and payments made by approximately 460,000 users in more than 300 cities. Although the first digits of the numbers in these mobile transactions follow Benford's law, the last digit has a strong tendency to be a lucky number or be influenced by psychological rounding. This lucky number tendency is more significant in transactions that are more strongly connected to social interactions, such as money sent as gifts or as "red envelopes " (a traditional method of gift-giving during Chinese holidays), and in transactions by individuals with potentially greater emotional needs, such as during COVID-19 outbreaks and natural disasters. This psychological rounding tendency is more common in online ecommerce payments, in-store purchases, and money transfers between individuals. These findings are key for understanding the last digit tendency and its psychological and emotional mechanisms, which could be used as an indicator of public sentiment or in methods of detecting fraudulent business activity.
URLhttp://hdl.handle.net/20.500.11897/740379
ISSN2096-9457
DOI10.1016/j.fmre.2023.11.011
收录情况ESCI
作者单位 Singapore Management Univ, Sch Comp & Informat Syst, Singapore 178902, Singapore Arizona State Univ, WP Carey Sch Business, Tempe, AZ 85287 USA Peking Univ, Guanghua Sch Management, Mkt, Beijing 100871, Peoples R China Tencent Weixin Grp, Shenzhen 518054, Peoples R China 时间 2025年1月1日
出版者 FUNDAMENTAL RESEARCH URL http://hdl.handle.net/20.500.11897/740379
ISSN 2096-9457 DOI 10.1016/j.fmre.2023.11.011
收录情况 ESCI 分类
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