Refund bonuses and revenue equivalence

Timothy R.B. Lattimer and Robertas Zubrickas

Economics Letters, 2023, vol. 231, issue C

Abstract: Refund bonuses are a practical solution to the implementation problem of crowdfunding. This paper shows in a framework with imperfect information that refund bonuses have no implications for the project developer’s expected revenue, thus, underscoring the practicality of this solution.

Keywords: Assurance contract; Refund bonus; Crowdfunding; Public good; Revenue equivalence (search for similar items in EconPapers)
JEL-codes: C72 D82 H41 (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:231:y:2023:i:c:s0165176523002902

DOI: 10.1016/j.econlet.2023.111265

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