University of International Business and Economics (UIBE)
R. Preston McAfee
Yahoo! Research Labs
Michael A. Williams
Competition Economics LLC
February 14, 2014
Fraud is an ancient crime and one that annually causes hundreds of billions of dollars in losses. We develop an evolutionary theory that suggests cyclical behavior in frauds should be common. We perform a wavelet analysis of the frequencies of fraudulent and non-fraudulent offenses. Our results demonstrate that the frequencies of fraudulent offenses exhibit cyclical behavior that differs markedly from the cyclical behavior of non-fraudulent offenses.
Number of Pages in PDF File: 38
Keywords: fraud, cycle, steady state, wavelet
JEL Classification: G38, L2, M49
Date posted: February 19, 2011 ; Last revised: February 15, 2014
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