Recourse loans and Ponzi schemes
نویسندگان
چکیده
منابع مشابه
The mathematics of Ponzi schemes
A first order linear differential equation is used to describe the dynamics of an investment fund that promises more than it can deliver, also known as a Ponzi scheme. The model is based on a promised, unrealistic interest rate; on the actual, realized nominal interest rate; on the rate at which new deposits are accumulated and on the withdrawal rate. Conditions on these parameters are given fo...
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ژورنال
عنوان ژورنال: Economic Theory
سال: 2019
ISSN: 0938-2259,1432-0479
DOI: 10.1007/s00199-019-01218-3