Autori
Wright, Mike
Orsenigo, Carlotta
Butticè, Vincenzo

Titolo
The effect of information asymmetries on serial crowdfunding and campaign success
Periodico
Economia e politica industriale
Anno: 2018 - Volume: 45 - Fascicolo: 2 - Pagina iniziale: 143 - Pagina finale: 173

In this paper, we study how information asymmetries influence the relation between serial crowdfunding and campaign success. We argue that the main advantage of serial crowdfunders is related to the role of information asymmetry reduction of the community they had developed through previous campaigns. Therefore, serial crowdfunders experience higher advantages compared to novice crowdfunders for campaigns characterized by high information asymmetries while their advantages tend to disappear for other campaigns. Similarly, we show that when information asymmetries are particularly high, the advantages of serial crowdfunders are endurable over time, while when information asymmetries are lower they tend to disappear rapidly. Econometric results on a sample of 34217 Kickstarter projects confirm our contentions. These finding are confirmed when using machine learning techniques instead of classical econometric analysis. Implications for research, practice and policy are discussed.



SICI: 0391-2078(2018)45:2<143:TEOIAO>2.0.ZU;2-C

Esportazione dati in Refworks (solo per utenti abilitati)

Biblioteche ACNP che possiedono il periodico