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RESEARCH PRODUCT
Rational Herding in Reward-Based Crowdfunding: An MTurk Experiment.
Amparo UrbanoErnesto Mesa-vázquezPau Sendra-ponsIrene Comeigsubject
peer effectsGeography Planning and DevelopmentTJ807-830consumer behaviorManagement Monitoring Policy and LawEconomiaTD194-195rational herdingRenewable energy sourcesMicroeconomicsSharing economy0502 economics and businessEconomicsnew management strategiesGE1-350HerdingSet (psychology)Herd behaviorConsumer behaviourEnvironmental effects of industries and plantssustainable projectsRenewable Energy Sustainability and the EnvironmentSpecific-information05 social sciencesCausal effectsharing economyPopularityEnvironmental sciencesFinances050211 marketingcrowdfunding experiments050203 business & managementdescription
Crowdfunding is gaining popularity as a way of financing social sustainable initiatives. We performed a controlled economic experiment in MTurk by simulating a crowdfunding platform and developed a theoretical model that rationalizes herding behavior. The experiment was designed to test and quantify the causal effects of revealing specific information to prospective backers: (i) the number of early contributors already financing the project and (ii) positive opinions of other backers versus those of experts. The results show that early contributions to the campaign and positive opinions of peers act as a reinforcing signal to potential backers and affect backers&rsquo
| year | journal | country | edition | language |
|---|---|---|---|---|
| 2020-11-24 |