In the context of the ongoing LIBOR scandal and highlighting the progress of more efficient cartel detection, The Economist notes that price data can quickly give antitrust authorities a tip-off to a brewing financial scandal. One method is using Benford’s law, which points out a pattern of most- and least-common digits found in large data sets. It’s a test that has worked to uncover the LIBOR scandal, and in its presentation of how events unfolded, The Economist uses Rosa Abrantes-Metz Rosa Abrantes-Metz’s study of LIBOR data to explain its points.
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