Evaluating the Minor Coarse Cereals Product Crowdfunding Platform through Evolutionary Game Analysis

Zhiyuan Yu, Muhammad Hafeez, Lihan Liu, Muhammad Mahmood and Hong Wu
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Zhiyuan Yu: School of Economics and Management, Beijing University of Posts and Telecommunications, Beijing 100876, China
Muhammad Hafeez: School of Economics and Management, Beijing University of Posts and Telecommunications, Beijing 100876, China
Lihan Liu: School of Economics and Management, Beijing University of Posts and Telecommunications, Beijing 100876, China
Hong Wu: School of Economics and Management, Beijing University of Posts and Telecommunications, Beijing 100876, China

Sustainability, 2019, vol. 11, issue 5, 1-17

Abstract: In the modern era, the minor coarse cereals (MCC) are particularly popular among consumers. Price fluctuations cause misperceptions for growers, but also bring about complications for processing enterprises and consumers. To solve this problem, a multi-grain product crowdfunding platform is proposed. To this end, an evolutionary game model is constructed to investigate the game equilibrium between growers and crowdfunders. The analysis determines that evolutionary game equilibrium is related to the relative price difference between the sowing period and the harvest period, and to the social/logistical cost. Under normal circumstances, the crowdfunder may default when the sowing-period price is greater than the harvest-period price. The grower may default if the sowing-period price is less than the harvest-period price. Therefore, in the design of a crowdfunding system for MCC products, a certain percentage of advance payment (30%) and certain default deposits should be collected from crowdfunders and growers, respectively.

Keywords: minor coarse cereals (MCC); product crowdfunding; evolutionary game theory; system design of crowdfunding platform (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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