Crowdfunding Success: Human Insights vs Algorithmic Textual Extraction

Caterina Giannetti and Maria Saveria Mavillonio

Discussion Papers from Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy

Abstract: Using a unique dataset of equity offerings from crowdfunding platforms, we explore the synergy between human insights and algorithmic analysis in evaluating campaign success through business plan assessments. Human evaluators (students) used a predefined grid to assess each proposal in a Business Plan competition. We then developed a classifier with advanced textual representations and compared prediction errors between human evaluators, a machine learning model, and their combination. Our goal is to identify the drivers of discrepancies in their evaluations. While AI models outperform humans in overall accuracy, human evaluations offer valuable insights, especially in areas requiring subtle judgment. Combining human and AI predictions leads to improved performance, highlighting the complementary strengths of human intuition and AI's computational power.

Keywords: Crowdfunding; Natural Language Processing; Human Evaluation (search for similar items in EconPapers)
JEL-codes: C45 C53 G2 (search for similar items in EconPapers)
Date: 2024-11-01
New Economics Papers: this item is included in nep-ain, nep-big and nep-pay
Note: ISSN 2039-1854
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.ec.unipi.it/documents/Ricerca/papers/2024-315.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pie:dsedps:2024/315

Access Statistics for this paper

More papers in Discussion Papers from Dipartimento di Economia e Management (DEM), University of Pisa, Pisa, Italy Contact information at EDIRC.
Bibliographic data for series maintained by ().