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Crowdfunding Creative Ideas: The Dynamics of Project Backers in Kickstarter

SSRN Electronic Journal
2015
  • 170
    Citations
  • 63,454
    Usage
  • 561
    Captures
  • 1
    Mentions
  • 0
    Social Media
Metric Options:   Counts1 Year3 Year

Metrics Details

  • Citations
    170
    • Citation Indexes
      161
      • 161
      • CrossRef
        68
      • Academic Citation Index (ACI) - airiti
        2
    • Policy Citations
      9
      • 9
  • Usage
    63,454
    • Abstract Views
      50,485
    • Downloads
      12,969
  • Captures
    561
    • Readers
      560
    • Exports-Saves
      1
      • SSRN
        1
  • Mentions
    1
    • News Mentions
      1
      • 1
  • Ratings
    • Download Rank
      720

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Article Description

Entrepreneurs are turning to crowdfunding as a way to finance their creative ideas. Crowdfunding involves relatively small contributions of many consumer-investors over a fixed time period (generally a few weeks). The purpose of this paper is to add to our empirical understanding of backer dynamics over the project funding cycle. Two years of publicly available data on projects listed on Kickstarter is used to establish that the typical pattern of project support is U-shaped — in general, backers are more likely to contribute to a project in the first and last week as compared to the middle period of the funding cycle. We further establish that this U-shape pattern of support is pervasive across projects, including both successfully and unsuccessfully funded projects, those with large and small goals, and projects in different categories. We then empirically explore the dynamics associated with several factors, including collective attention effects from platform sorting options, the role of family and friends in supporting projects, the effects of social influence, and the role of project updates over the project funding cycle.

Bibliographic Details

Venkat Kuppuswamy; Barry L. Bayus

Elsevier BV

Entrepreneurship; Innovation; Venture Financing; Strategy; Crowdfunding

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