What is it about?
We use a psychological approach to answer why people get caught up in the Ponzi and pyramid schemes. It was found that optimism (emotional bias), confirmation bias, representativeness bias, framing bias, and overconfidence (cognitive bias) are the causes of people trapped in the schemes.
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This page is a summary of: Why are people trapped in Ponzi and pyramid schemes?, Journal of Financial Crime, August 2020, Emerald,
DOI: 10.1108/jfc-05-2020-0093.
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