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We exploit the fact that a pyramid is the largest component of the social network within which is born to explain its boom and fall. As any component is connected (there is at least one path connecting every one of its pairs of nodes), information about the payment o not payment of interests over capital flows through its paths allowing for the emergence of collective beliefs with respect to the pyramid’s viability. The same social structure that explains the pyramids’ boom is behind its catastrophic fall.

Salazar Trujillo, B., & Franco Escobar, A. M. (2009). The pyramid’s game. Sociedad Y Economía, (16), 87–106. Retrieved from https://sociedadyeconomia.univalle.edu.co/index.php/sociedad_y_economia/article/view/4078