The economics of crowdfunding platforms

被引：282

作者：

Belleflamme, Paul ^{[1
,2
,3
]}

Omrani, Nessrine ^{[4
]}

Peitz, Martin ^{[5
]}

机构：

[1] Catholic Univ Louvain, CORE, Louvain, Belgium

[2] Catholic Univ Louvain, Louvain Sch Management, Louvain, Belgium

[3] CESifo, Munich, Germany

[4] Paris Sch Business, Paris, France

[5] Univ Mannheim, Mannheim Ctr Competit & Innovat MaCCI, Mannheim, Germany

来源：

INFORMATION ECONOMICS AND POLICY | 2015年 / 33卷

关键词：

Crowdfunding; Platform markets; Network effects; Asymmetric information; P2P lending; COMPETITION; NETWORKS; MODEL; TRUST; CERTIFICATION; DETERMINANTS; DECISION; MARKETS; CROWD;

D O I：

10.1016/j.infoecopol.2015.08.003

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

This paper provides a description of the crowdfunding sector, considering investment-based crowdfunding platforms as well as platforms in which funders do not obtain monetary payments. It lays out key features of this quickly developing sector and explores the economic forces at play that can explain the design of these platforms. In particular, it elaborates on cross-group and within-group external effects and asymmetric information on crowdfunding platforms. (C) 2015 Elsevier B.V. All rights reserved.

引用

页码：11 / 28

页数：18

共 92 条

[1]

Agrawal A., 2013, Innovation Policy and the Economy, Volume 14, V14

[2]

Agrawal A.K., 2013, CROWDFUNDING S UNPUB

[3] Signaling in Equity Crowdfunding [J].

Ahlers, Gerrit K. C. ;

Cumming, Douglas ;

Guenther, Christina ;

Schweizer, Denis .

ENTREPRENEURSHIP THEORY AND PRACTICE, 2015, 39 (04) :955-980

[4] Strategic certification and provision of quality [J].

Albano, GL ;

Lizzeri, A .

INTERNATIONAL ECONOMIC REVIEW, 2001, 42 (01) :267-283

[5] Crowdfunding in a Prosocial Microlending Environment: Examining the Role of Intrinsic Versus Extrinsic Cues [J].

Allison, Thomas H. ;

Davis, Blakley C. ;

Short, Jeremy C. ;

Webb, Justin W. .

ENTREPRENEURSHIP THEORY AND PRACTICE, 2015, 39 (01) :53-73

[6] The effect of entrepreneurial rhetoric on microlending investment: An examination of the warm-glow effect [J].

Allison, Thomas H. ;

McKenny, Aaron F. ;

Short, Jeremy C. .

JOURNAL OF BUSINESS VENTURING, 2013, 28 (06) :690-707

[7]

[Anonymous], 2013, OXFORD HDB ENTREPREN

[8]

[Anonymous], 35 INT C INF S UNPUB

[9]

[Anonymous], EMPIRICAL ANAL UNPUB

[10] Competition in two-sided markets [J].

Armstrong, Mark .

RAND JOURNAL OF ECONOMICS, 2006, 37 (03) :668-691

← 1 2 3 4 5 6 7 8 9 10 →