作者
Taofik Hidajat, Ina Primiana, Sulaeman Rahman, Erie Febrian
发表日期
2020/8/24
期刊
Journal of Financial Crime
卷号
28
期号
1
页码范围
187-203
出版商
Emerald Publishing Limited
简介
Purpose
This paper aims to identify psychological factors that influence people to be involved in Ponzi and pyramid schemes.
Design/methodology/approach
A psychological approach to finance or behavioural finance is applied in this research because of the assumption that human beings are not always rational. The sample consisted of 98 investors in 11 cities in Indonesia who were or had invested in an investment program with a Ponzi or pyramid scheme. The snowball sampling technique was applied.
Findings
The conclusion is that optimism (emotional bias), confirmation bias, representativeness bias, framing bias and overconfidence (cognitive bias) positively influenced investment decisions related to Ponzi and pyramid schemes.
Originality/value
The novelty aspect of this research is the implementation of a behavioural finance perspective to answer and express the fascinating phenomenon of Ponzi and …
学术搜索中的文章
T Hidajat, I Primiana, S Rahman, E Febrian - Journal of Financial Crime, 2020