| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP13054 |
| DP13054 Multilevel Marketing: Pyramid-Shaped Schemes or Exploitative Scams? | |
| Yair Antler | |
| 发表日期 | 2018-07-16 |
| 出版年 | 2018 |
| 语种 | 英语 |
| 摘要 | We identify the conditions on the tendency of agents to spread information by word of mouth, under which a principal can design a pyramid scam to exploit a network of boundedly rational agents whose beliefs are coarse. Our main result is that a pyramid scam is sustainable only if its underlying reward scheme compensates the participants based on multiple levels of their downlines (e.g., for recruiting new members to the pyramid and for recruitments made by these new members). Motivated by the growing discussion on the legitimacy of multilevel marketing schemes and their resemblance to pyramid scams, we use our model to compare the two phenomena based on their underlying compensation structure. |
| 主题 | Industrial Organization |
| 关键词 | Pyramid scams Multilevel marketing Analogy-based expectations Coarse feedback Bounded rationality |
| URL | https://cepr.org/publications/dp13054 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/541860 |
| 推荐引用方式 GB/T 7714 | Yair Antler. DP13054 Multilevel Marketing: Pyramid-Shaped Schemes or Exploitative Scams?. 2018. |
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