BUSINESS INFORM №11-2014

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Section: Economic and Mathematical Modeling
UDC 336.767.017.2
Pidkhomnyi O. M.
Criteria for Identification of Financial Pyramid Schemes and Simulating of their Functioning (p. 102 - 107)
In the article criteria of financial pyramid schemes are considered, which allows to formulate definitions of these phenomena on base of economic and legal positions, and to allocate financial pyramids among other types of financial relations. The main forms of functioning of financial pyramid schemes are covered. Approaches to modeling of financial pyramid schemes are generalized. The model of functioning of a financial pyramid scheme is proposed, which allows to divide the time of its existence into discrete periods. Through iterations on the basis of the proposed system of formulas, dynamics of a number of interrelated indicators of a financial pyramid can be calculated. The mathematical apparatus used in the model allows to display in diagram form different aspects of functioning of financial pyramid schemes. It is specified, that impossibility to fulfill the promised payments may result in a sudden collapse of a financial pyramid scheme, due to the cessation of contributions, though continuation of its functioning with a gradual decline in activity is possible as well.
Keywords: financial pyramid scheme, savings, attacking potential of financial pyramid scheme
Fig.: 4. Formulae: 12. Bibl.: 11.

Pidkhomnyi Oleg M. – Doctor of Sciences (Economics), Associate Professor, Professor, Department of Finance, Monetary Circulation and Credit, Ivan Franko National University of Lviv (1 Unіversytetska Str., Lvіv, 79001, Ukraine)
Email: [email protected]

Article is written in Ukrainian
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Reference to this article:
Pidkhomnyi, Oleg M. (2014) “Criteria for Identification of Financial Pyramid Schemes and Simulating of their Functioning.” Business Inform 11:102–107.

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