By Ziegler A.
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Additional resources for A game theory analysis of options
2014) demonstrate the importance of language in the success of crowdfunding campaigns. In their research, Mitra and Gilbert (2014) demonstrate that the phrases that fundraisers use to promote their projects on the pitch page play a pivotal role in driving the success of crowdfunding campaigns. Xu et al. (2014) use the project updates that relate to specific pitches and find that in general, updates are an important driver in the success of a crowdfunding campaign. Certain themes and timing of updates are found to be more important: (1) those that call for promotion on social media lato sensu, particularly in the first days; (2) those that report on the progress of the funding, particularly during the fundraising; and (3) those that relate to rewards, mainly in the last days.
The results reveal that as the size of the donation increases, the funding is less likely to reach the target goal. Further, the analysis demonstrates that no differences exist in the probability of being fully funded between male and female teachers; however, if teachers are members of specific associations or post projects for older students (15 to 18 years of age) or for poor students/schools, their projects are more likely to receive full funding. The third study is by Crosetto and Regner (2014).
The main threat to funders is the risk of fraud committed by the platform that can take two forms. The first is that the platform (or more often, the pitch posted on the platform) might be fraudulent, either because the true financial status of the firm is hidden from investors or the money raised is not used for the stated purpose (De Buysere et al. 2012, p. 15; Galvin 2012; Valanciene and Jegeleviciute 2013, p. 44). This type of fraud stems directly from the information asymmetry problems of adverse selection and moral hazard that were highlighted in the previous section.
A game theory analysis of options by Ziegler A.