Work2016

Analysis of rewards on reward-based crowdfunding platforms

Yusan Lin · Wang-Chien Lee · Chung‐Chou H. Chang

23 citations0/0 files storedIEEE/ACM International Conference on Advances in Social Networks Analysis and Mining (ASONAM)

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FinTech, Crowdfunding, Digital Finance Open Source Software Innovations Mobile Crowdsensing and Crowdsourcing

Abstract

Today, crowdfunding has emerged as a popular means for fundraising. Among various crowdfunding platforms, reward-based ones are the most well received. However, to the best knowledge of the authors, little research has been performed on rewards. In this paper, we analyze a Kickstarter dataset, which consists of approximately 3K projects and 30K rewards. The analysis employs various statistical methods, including Pearson correlation tests, Kolmogorov-Smirnow test and Kaplan-Meier estimation, to study the relationships between various reward characteristics and project success. We find that projects with more rewards, with limited offerings and late-added rewards are more likely to succeed.

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References

2013The dynamics of crowdfunding: An exploratory study 2000When choice is demotivating: Can one desire too much of a good thing?2004The Paradox of Choice: Why More Is Less 2003Consumer Switching Costs: A Typology, Antecedents, and Consequences 2010Can There Ever Be Too Many Options? A Meta-Analytic Review of Choice Overload 2013Crowdfunding 2009Fear and Loving in Las Vegas: Evolution, Emotion, and Persuasion 2014The language that gets people to give

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2022Putting your money where your mouth is – the role of rewards in a value-based understanding of restaurant crowdfunding 2022The impact of common success factors on overfunding in reward-based crowdfunding: An explorative study and avenues for future research 2023Determinants of overfunding in reward-based crowdfunding 2022Cues that Work: Designing the Optimal Restaurant Crowdfunding Campaign in the US

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