Crowdfunding : psychological conditioning

"Crowdfunding" jest stosunkowo nowym pojęciem; to neologizm, który powstał w 2006 roku. Słowo składa się z dwóch terminów: crowd ("tłum") oraz funding ("finansowanie"). Crowdfunding funkcjonuje za pośrednictwem specjalnych platform i Internetu, wykorzystuje płatności online. Celem niniejszego artykułu jest zdefiniowanie crowdfundingu, a także opisanie jego modeli i wskazanie na motywacje psychologiczne związane z dziedziną crowdfundingu. Ponadto przedstawione zostały niektóre z ostatnich badań na jego temat, które wskazują na psychologiczne i socjologiczne determinanty zachowań w sieci.Crowdfunding is a relatively new term; it’s a neologism that has been brought to live in 2006. The word itself is a blend of two terms: ‘crowd’ and ‘funding’ and the background for that term is connected with ‘crowdsourcing’. Crowdfunding use special platforms, web and online payments. The aim of the paper is mainly related to defining crowdfunding, describing models of crowdfunding and indicating some of psychological motivations and conditions to operate in crowdfunding realm. The analysis provides a clear picture of crowdfunding models and psy- chological motivations to crowdfunding. What is more, some of the recent researches and case studies will be presented to show some of the particular crowdfunding activities

Intrastate Crowdfunding in Alaska: Is There Security in Following the Crowd?

This Note analyzes the potential of crowdfunding for the State of Alaska. Crowdfunding can open up new sources of revenue for small businesses while simultaneously providing an avenue for Alaskans to invest in their own communities. The potential, however, must be weighed against the risk of fraud, poorly run businesses, and the lack of protection for investors. It is the responsibility of the Alaska legislature, the State’s securities administrators, and the Securities and Exchange Commission to ensure that investors are adequately protected. This Note discusses Alaska’s crowdfunding legislation, the Alaska Intrastate Crowdfunding Exemption, and recommends changes to the legislation that account for the risks involved in crowdfunding while still capturing its potential

Donor Retention in Online Crowdfunding Communities: A Case Study of DonorsChoose.org

Online crowdfunding platforms like DonorsChoose.org and Kickstarter allow specific projects to get funded by targeted contributions from a large number of people. Critical for the success of crowdfunding communities is recruitment and continued engagement of donors. With donor attrition rates above 70%, a significant challenge for online crowdfunding platforms as well as traditional offline non-profit organizations is the problem of donor retention. We present a large-scale study of millions of donors and donations on DonorsChoose.org, a crowdfunding platform for education projects. Studying an online crowdfunding platform allows for an unprecedented detailed view of how people direct their donations. We explore various factors impacting donor retention which allows us to identify different groups of donors and quantify their propensity to return for subsequent donations. We find that donors are more likely to return if they had a positive interaction with the receiver of the donation. We also show that this includes appropriate and timely recognition of their support as well as detailed communication of their impact. Finally, we discuss how our findings could inform steps to improve donor retention in crowdfunding communities and non-profit organizations.Comment: preprint version of WWW 2015 pape

The Qualitative Analysis of Factors Influencing the Adoption Rate of Reward-Based Crowdfunding by Polish Filmmakers

The aim of this article is to analyze and discuss the factors impacting the process of the implementation of crowdfunding by the Polish film industry. The presented study is based on the qualitative approach: unstructured or semistructured interviews, questionnaires and the analysis of case studies. The respondents enumerated and evaluated a wide spectrum of factors facilitating and hindering the adoption rate: from general barriers (e.g. legal regulation of crowdfunding) to very specific aspects for filmmaking (e.g. the unprofessional promotional video of the crowdfunding project). The findings highlighted the significance of the following factors: the existing strong filmmakers’ attitude that ‘crowdfunding is for film beginners’, the complexity of team management (film crew) during the process of crowdfunding campaigns, and the cultural aspects of seeking financial support from friends.Celem artykułu jest analiza i omówienie czynników wpływających na proces implementacji crowdfundingu przez polski sektor filmowy. Zaprezentowane w artykule badania zostały oparte na metodach jakościowych: nieustrukturalizowanych lub częściowo ustrukturalizowanych wywiadach i kwestionariuszach oraz na analizie studium przypadków. Respondenci wskazali i dokonali ewaluacji szerokiego spektrum czynników wspierających i hamujących proces akceptacji innowacji, jaką jest crowdfunding: od ogólnych barier (np. legislacji prawnych dotyczących crowdfundingu), po czynniki ściśle związane z produkcją filmową (np. nieprofesjonalne wideo promujące projekt crowdfundingowy). Wyniki badań podkreślają szczególne znaczenie następujących czynników: silnej postawy respondentów oceniającej crowdfunding jako narzędzie dla początkujących filmowców, złożoność procesu zarządzania zespołem (ekipą filmową) w trakcie realizacji projektu kampanii crowdfundingowej oraz aspekt kulturowy dotyczący szukania wsparcia dla projektu wśród grona znajomych

A snapshot on crowdfunding

This article addresses crowdfunding, a relatively new form of informal financing of pro-jects and ventures. It describes its principle characteristics and the range of players in this market. The different business models of crowdfunding intermediaries are explored and illustrated. A first attempt is made to classify the different forms of funding and business models of crowdfunding intermediaries. Based on the available empirical data the paper discusses the economic relevance of crowdfunding and its applicability to start-up financing and funding creative ventures and research projects. --

In crowdfunding we trust : a trust-building model in lending crowdfunding

Trust critically affects the perceived probability of receiving expected returns on investment. Crowdfunding differs in many ways from traditional forms of investing. We have to ask what builds trust in this particular context. Based on literature regarding the formation of initial trust, we developed a model to explain which factors lead to crowdfunders’ trust in a crowdfunding project. We tested it on data collected from actual investors in a real project on a crowdlending platform. Our results show that trust in the crowdfunding platform and the information quality are more important factors of project trust than trust in the creator