An Empirical Examination of the Antecedents and Consequences of Contribution Patterns in Crowd-Funded Markets

Published Online:https://doi.org/10.1287/isre.1120.0468

References

  • Abrams BA, Schitz MD (1978) The “crowding-out” effect of governmental transfers on private charitable contributions. Public Choice 33(1):29–39.CrossrefGoogle Scholar
  • Adar E, Huberman BA (2000) Free riding on Gnutella. First Monday 5(10).CrossrefGoogle Scholar
  • Agarwal A, Catalini C, Goldfarb A (2011) Entrepreneurial finance and the flat-world hypothesis: Evidence from crowd-funding entrepreneurs in the arts. NBER Working paper, http://www.nber.org/papers/w/6820.Google Scholar
  • Aitamurto T (2011) The impact of crowdfunding on journalism. Journalism Practice 5(4):429–445.CrossrefGoogle Scholar
  • Albuquerque P, Pavlidis P, Chatow U, Chen KY, Jamal Z (2012) Evaluating promotional activities in an online two-sided market of user-generated content. Marketing Sci. 31(3):406–432.LinkGoogle Scholar
  • Andreoni J (1989) Giving with impure altruism: Applications to charity and Ricardian equivalence. J. Political Econom. 97(6):1447–1458.CrossrefGoogle Scholar
  • Andreoni J (1990) Impure altruism and donations to public goods: A theory of warm-glow giving. Econom. J. 100(401):464–477.CrossrefGoogle Scholar
  • Andreoni J (1995) Cooperation in public-goods experiments: Kindness or confusion? Amer. Econom. Rev. 85(4):891–904.Google Scholar
  • Andreoni J (1998) Toward a theory of charitable fund-raising. J. Political Econom. 106(6):1186–1213.CrossrefGoogle Scholar
  • Andreoni J, Payne AA (2003) Do government grants to private charities crowd out giving or fund-raising? Amer. Econom. Rev. 93(3):792–812.CrossrefGoogle Scholar
  • Archak N, Ghose A, Ipeirotis P (2011) Deriving the pricing power of product features by mining consumer reviews. Management Sci. 57(8):1485–1509.LinkGoogle Scholar
  • Arellano M, Bond S (1991) Some tests of specification for panel data: Monte Carlo evidence and an application to employment equations. Rev. Econom. Stud. 58(2):277–297.CrossrefGoogle Scholar
  • Arellano M, Bover O (1995) Another look at the instrumental variable estimation of error-components models. J. Econometrics 68(1):29–51.CrossrefGoogle Scholar
  • Asvanund A, Clay K, Krishnan R, Smith MD (2004) An empirical analysis of network externalities in peer-to-peer music-sharing networks. Inform. Systems Res. 15(2):155–174.LinkGoogle Scholar
  • Bardsley N, Sausgruber R (2005) Conformity and reciprocity in public good provision. J. Econom. Psych. 26(5):664–681.CrossrefGoogle Scholar
  • Belleflamme P, Lambert T, Schwienbacher A (2012) Crowdfunding: Tapping the right crowd. Working paper, http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1578175.Google Scholar
  • Bernheim BD (1994) A theory of conformity. J. Political Econom. 104(5):841–877.CrossrefGoogle Scholar
  • Besancenot D, Huynh K, Vranceanu R (2009) The “read or write” dilemma in academic production: A transatlantic perspective. Amer. Economist 53(1):75–84.CrossrefGoogle Scholar
  • Blundell R, Bond S (1998) Initial conditions and moment restrictions in dynamic panel data models. J. Econometrics 87(1):115–143.CrossrefGoogle Scholar
  • Bonabeau E (2009) Decisions 2.0: The power of collective intelligence. MIT Sloan Management Rev. 50(2):45–52.Google Scholar
  • Borck R, Frank B, Robledo J (2006) An empirical analysis of voluntary payments for information goods on the Internet. Inform. Econom. Policy 18(2):229–239.CrossrefGoogle Scholar
  • Burger JM, Horita M, Kinoshita L, Roberts K, Vera C (1997) Effects on time on the norm of reciprocity. Basic Appl. Soc. Psych. 19(1):91–100.Google Scholar
  • Burtch G (2011) Herding behavior as a network externality. ICIS 2011 Proc., Paper 28. http://aisel.aisnet.org/icis2011/proceedings/humanbehavior/28.Google Scholar
  • Burtch G, Ghose A, Wattal S (2013) Out of sight, out of mind: Cultural differences and geographic proximity as determinants of crowdfunding contributions. Working paper,.Google Scholar
  • Carpenter J (2007) Punishing free-riders: How group size affects mutual monitoring and the provision of public goods. Games Econom. Behav. 60(1):31–51.CrossrefGoogle Scholar
  • Cha M, Kwak H, Rodriguez P, Ahn Y, Moon S (2007) I tube, you tube, everybody tubes: Analyzing the world's largest user generated content video system. Proc. 7th ACM SIGCOMM Conf. Internet Measurement (ACM Press, New York), 1–14.CrossrefGoogle Scholar
  • Chauduri A, Paichayontvijit T (2006) Conditional cooperation and voluntary contributions to a public good. Econom. Bull. 3(8):1–14.Google Scholar
  • Choi H, Varian HR (2012) Predicting the present with Google trends. Econom. Record 88(Special Issue):2–9.CrossrefGoogle Scholar
  • Croson R, Shang J (2008) The impact of downward social information on contribution decisions. Experiment. Econom. 11(3):221–233.CrossrefGoogle Scholar
  • Dewan S, Ramaprasad J (2012) Music blogging, online sampling, and the long tail. Inform. Systems Res. 23(3, part 2):1056–1067.LinkGoogle Scholar
  • Duan W, Gu B, Whinston A (2009) Informational cascades and software adoption on the Internet: An empirical investigation. MIS Quart. 33(1):23–48.CrossrefGoogle Scholar
  • Eckel C, Grossman P (2008) Differences in the economic decisions of men and women: Experimental evidence. Plott C, Smith V, eds. Handbook of Experimental Economics Results (North-Holland, Amsterdam), 509–519.CrossrefGoogle Scholar
  • Falk A (2004) Charitable giving as a gift exchange: Evidence from a field experiment. Working paper, http://papers.ssrn.com/sol3/papers.cfm?abstract_id=560281.Google Scholar
  • Flynn FJ (2003) What have you done for me lately? Temporal adjustments to favor evaluations. Organ. Behav. Human Decision Processes 91(1):38–50.CrossrefGoogle Scholar
  • Forman C, Ghose A, Wiesenfeld B (2008) Examining the relationship between reviews and sales: The role of reviewer identity disclosure in electronic markets. Inform. Systems Res. 19(3):291–313.LinkGoogle Scholar
  • Ghose A, Ipeirotis P (2006) Designing ranking systems for consumer reviews: The impact of review subjectivity on product sales and review quality. Proc. 16th Annual Workshop Inform. Tech. Systems, http://pages.stern.nyu.edu/~panos/publications/wits2006.pdf.Google Scholar
  • Ghose A, Ipeirotis P (2011) Estimating the helpfulness and economic impact of product reviews: Mining text and reviewer characteristics. IEEE Trans. Knowledge and Data Engrg. 23(10):1498–1512.CrossrefGoogle Scholar
  • Godes D, Mayzlin D (2004) Using online conversations to study word-of-mouth communication. Marketing Sci. 23(4):545–560.LinkGoogle Scholar
  • Goren H, Kurzban R, Rapoport A (2003) Social loafing vs. social enhancement: Public goods provisioning in real-time with irrevocable commitments. Organ. Behav. Human Decision Processes 90(2):277–290.CrossrefGoogle Scholar
  • Gu B, Huang Y, Duan W, Whinston A (2009) Indirect reciprocity in online social networks—A longitudinal analysis of individual contributions and peer enforcement in a peer-to-peer music sharing network. McCombs Res. Paper Series.CrossrefGoogle Scholar
  • Hausman J, Hall B, Griliches Z (1984) Econometric models for count data with an application to the patents-R&D relationship. Econometrica 52(4):909–938.CrossrefGoogle Scholar
  • Hamilton JT (2003) All the News That's Fit to Sell: How the Market Transforms Information Into News (Princeton University Press, Princeton, NJ).Google Scholar
  • Hughes D, Coulson G, Walkerdine J (2005) Free riding on Gnutella revisited: The bell tolls?. IEEE Distributed Systems Online 6(6):1–18.CrossrefGoogle Scholar
  • Kappel T (2008) Ex ante crowdfunding and the recording industry: A model for the U.S.? Loyola of Los Angeles Entertainment Law Rev. 29:375–385.Google Scholar
  • Kaye J, Quinn S (2010) Funding Journalism in the Digital Age (Peter Lang Publishing, New York).CrossrefGoogle Scholar
  • Keene O (1995) The log transformation is special. Statist. Medicine 14(8):811–819.CrossrefGoogle Scholar
  • Kingma BR (1989) An accurate measurement of the crowd-out effect, income effect, and price effect for charitable contributions. J. Political Econom. 97(5):1197–1207.CrossrefGoogle Scholar
  • Krishnan R, Smith M, Tang Z, Telang R (2002) The virtual commons: Why free-riding can be tolerated in file sharing networks. ICIS 2002 Proc. Paper 82. http://aisel.aisnet.org/icis2002/82.Google Scholar
  • Lee A (2001) The mere exposure effect: An uncertainty reduction expanation revisited. Personality Soc. Psych. Bull. 27(10):1255–1266.CrossrefGoogle Scholar
  • Lin M, Prabhala N, Viswanathan S (2012) Judging borrowers by the company they keep: Social networks and adverse selection in online peer-to-peer lending. Management Sci. 59(1):17–35.LinkGoogle Scholar
  • List J, Lucking-Reiley D (2002) The effects of seed money and refunds on charitable giving: Experimental evidence from a university capital campaign. J. Political Econom. 110(1):215–233.CrossrefGoogle Scholar
  • Mahajan V, Muller E, Wind Y (2000) New Product Diffusion Models (Springer, New York).Google Scholar
  • Massolution (2012) Crowdfunding Industry Report: Market Trends, Composition and Crowdfunding Platforms. Crowdsourcing LLP. Retrieved on May 18, 2012. http://www.crowdsourcing.org/editorial/total-global-crowdfunding-to-nearly-double-in-2012-to-3b-massolution-research-report/14287.Google Scholar
  • Mehrhoff J (2009) A solution to the problem of too many instruments in dynamic panel data GMM. Deutsche Bank Discussion Series 1: Econom. Stud. 31. http://hdl.handle.net/10419/28620.Google Scholar
  • Mollick E (2012) The dynamics of crowdfunding: Determinants of success and failure. SSRN Working paper, http://papers.ssrn.com/sol3/papers.cfm?abstract_id=2088298.Google Scholar
  • Nandi T, Rochelandet F (2008) The incentives for contributing digital contents over P2P networks: An empirical investigation. Rev. Econom. Res. Copyright Issues 5(2):19–35.Google Scholar
  • O'Hara R, Kotze J (2010) Do not log-transform count data. Methods in Ecology and Evolution 1(2):118–122.CrossrefGoogle Scholar
  • Reece WS (1979) Charitable contributions: New evidence on household behavior. Amer. Econom. Rev. 69(1):142–151.Google Scholar
  • Resnick P, Sami R (2008) Manipulation-resistant recommender systems through influence limits. ACM SIGecom Exchanges 7(3):1–4.CrossrefGoogle Scholar
  • Roberts R (1984) A positive model of private charity and public transfers. J. Political Econom. 92(1):136–148.CrossrefGoogle Scholar
  • Schlosser A (2005) Posting versus lurking: Communicating in a multiple audience context. J. Consumer Res. 32(2):260–265.CrossrefGoogle Scholar
  • Schwienbacher A, Larralde B (2012) Crowdfunding of small entrepreneurial ventures. Cumming D, ed. Oxford Handbook of Entrepreneurial Finance (Oxford University Press, New York), 369–390.Google Scholar
  • Shang J, Croson R (2009) A field experiment in charitable contribution: The impact of social information on the voluntary provision of public goods. Econom. J. 119(540):1422–1439.Google Scholar
  • Stock JH, Yogo M (2002) Testing for weak instruments in linear IV regression. NBER Working paper, http://www.nber.org/papers/t0284.CrossrefGoogle Scholar
  • Sugden R (1984) Reciprocity: The supply of public goods through voluntary contributions. Econom. J. 94(376):772–787.Google Scholar
  • The American Jobs Act (2011) Democratic National Committee. Accessed November 5, 2011. http://www.americanjobsact.com/helping-small-businesses.html.Google Scholar
  • Tucker C, Zhang J (2010) Growing two-sided networks by advertising the user base: A field experiment. Marketing Sci. 29(5):805–814.LinkGoogle Scholar
  • Tucker C, Zhang J (2011) How does popularity information affect choices? A field experiment. Management Sci. 57(5):828–842.LinkGoogle Scholar
  • Varian H (1994) Sequential contributions to public goods. J. Public Econom. 53(2):165–186.CrossrefGoogle Scholar
  • Vesterlund L (2003) The informational value of sequential fundraising. J. Public Econom. 87(3–4):627–657.CrossrefGoogle Scholar
  • Wasko M, Teigland R, Faraj S (2009) The provision of online public goods: Examining social structure in an electronic network of practice. Decision Support Systems 47(3):254–265.CrossrefGoogle Scholar
  • Wu L, Brynjolfsson E (2009) The future of prediction: How Google searches foreshadow housing prices and quantities. http://aisel.aisnet.org/icis2009/147/.Google Scholar
  • Xia M, Huang Y, Duan W, Whinston A (2011) To continue sharing or not to continue sharing? An empirical analysis of user decision in peer-to-peer sharing networks. Inform. Systems Res. 23(1):247–259.LinkGoogle Scholar
  • Zhang J, Liu P (2012) Rational herding in Microloan markets. Management Sci. 58(5):892–912.LinkGoogle Scholar
INFORMS site uses cookies to store information on your computer. Some are essential to make our site work; Others help us improve the user experience. By using this site, you consent to the placement of these cookies. Please read our Privacy Statement to learn more.