Looking at some of the replies and going back and looking at some survivorman youtube videos, it indeed looks like he is using a form of whipping, even though whipping is not defined in that way (i.e. at the ends of rope to prevent flaying). Les talks about pulling on the working end to tighten the bight it is though, which is underneath the wrapping. I wouldn't mind trying to classify this type of lashing.
Also, what would be the best way to do this? I myself would have to say to use a contrictor knot on one end, then start wrapping, maybe doing two turns before making a bight and lying it on the previous work. Then continue to wrap over the loop, pull the working end through the bight and tighten, just like in whipping and then cut off the end.
This also seems similar to a heaving line knot, a hangman's noose, or a fishing tie for a flat hook (sp?) (one without an eye), though I can't think of what its called.
Opinions?