Donation-based crowdfunding with refund bonuses
Abstract
We study donation-based crowdfunding for threshold public good provision. Our main focus is on an extension with refund bonuses aimed at resolving the problems of equilibrium coordination and free riding. In the case of insufficient contributions, contributors not only have their contributions refunded but they also receive refund bonuses proportional to their pledged contributions. Thus, refund bonuses encourage more contributions but...
Paper Details
Title
Donation-based crowdfunding with refund bonuses
Published Date
Oct 1, 2019
Journal
Volume
119
Pages
452 - 471
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