Two notes about Ponzi schemes

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Title: Two notes about Ponzi schemes
Authors: Honohan, Patrick
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Date: Oct-1987
Online since: 2009-09-25T16:01:23Z
Abstract: A Ponzi scheme is an arrangement whereby a promoter offers an investment opportunity with attractive dividends, but where the only basis for the dividends is the future receipts from new investors. The first of these two notes explores some of the analytical properties of a Ponzi scheme, addressing in particular the question whether it is possible for a Ponzi scheme to exist if all the participants are rational. The second note briefly examines the collapse of the PMPA insurance company whose accounts document the evolution of an unsound financial operation displaying many of the characteristics of the Ponzi scheme.
Item notes: A hard copy is available in UCD Library at GEN 330.08 IR/UNI
Type of material: Working Paper
Publisher: University College Dublin. School of Economics
Series/Report no.: UCD Centre for Economic Research Working Paper Series; No. 53
Subject LCSH: Ponzi schemes
Language: en
Status of Item: Not peer reviewed
Appears in Collections:Economics Working Papers & Policy Papers

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