We estimate what percentage of firms engage in fraud and the economic cost of fraud. Our estimates are based on detected frauds, and frauds that we infer are started but are not caught. To identify the ‘iceberg' of undetected fraud we take advantage of an exogenous shock to the incentives for...

From a game theoretic point of view, fraudulent accounting to embellish the financial status of a firm and the use of drugs to enhance performance in sports are very similar. We study the replicator dynamics of both applications within the same model. We allow for heterogenous populations, such...

Fraud has become a worldwide phenomenon and prime issue of concern. It dwells in all countries and affects all types of organisations irrespective of their size, profitability or industry. The primary objective of this paper is to provide an in-depth understanding of literature related to...