EconPapers    
Economics at your fingertips  
 

Aiming for the Goal: Contribution Dynamics of Crowdfunding

Joyee Deb (), Aniko Oery () and Kevin R. Williams ()
Additional contact information
Joyee Deb: Cowles Foundation, Yale University, http://som.yale.edu/joyee-deb
Aniko Oery: Cowles Foundation, Yale University, http://som.yale.edu/aniko-oery
Kevin R. Williams: Cowles Foundation, Yale University, http://som.yale.edu/kevin-r-williams

Authors registered in the RePEc Author Service: Aniko Öry

No 2149, Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University

Abstract: We study reward-based crowdfunding campaigns, a new class of dynamic contribution games where consumption is exclusive. Two types of backers participate: buyers want to consume the product while donors just want the campaign to succeed. The key tension is one of coordination between buyers, instead of free-riding. Donors can alleviate this coordination risk. We analyze a dynamic model of crowdfunding and demonstrate that its predictions are consistent with high-frequency data collected from Kickstarter. We compare the Kickstarter mechanism to alternative platform designs and evaluate the value of dynamically arriving information. We extend the model to incorporate social learning about quality.

Keywords: Crowdfunding; Contribution Games; Dynamic Models; Kickstarter (search for similar items in EconPapers)
JEL-codes: C73 L26 M13 (search for similar items in EconPapers)
Pages: 63 pages
Date: 2018-12
New Economics Papers: this item is included in nep-gth, nep-mic and nep-pay
References: View references in EconPapers View complete reference list from CitEc
Citations: Track citations by RSS feed

Downloads: (external link)
http://cowles.yale.edu/sites/default/files/files/pub/d21/d2149.pdf (application/pdf)

Related works:
Working Paper: Aiming for the Goal: Contribution Dynamics of Crowdfunding (2019) Downloads
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:cwl:cwldpp:2149

Ordering information: This working paper can be ordered from
Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA
The price is None.

Access Statistics for this paper

More papers in Cowles Foundation Discussion Papers from Cowles Foundation for Research in Economics, Yale University Yale University, Box 208281, New Haven, CT 06520-8281 USA. Contact information at EDIRC.
Bibliographic data for series maintained by Matthew Regan ().

 
Page updated 2020-02-19
Handle: RePEc:cwl:cwldpp:2149