Joining the Crowd: The Impact of Social Information in Crowdfunding Campaigns

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Abstract

Philanthropic crowdfunding is an online funding method with a growing popularity. In this study we quantify the effects of information about the donation behavior of previous donors, also known as social information. We report results from a large natural field experiment among visitors (n = 23,676) of a crowdfunding platform advertising campaigns for artists and nonprofit organizations in the field of arts and culture. Visitors who were exposed to a reminder about the average donation amount of previous donors were not more likely to donate than visitors who were not exposed to this information. Neither did visitors who decided to donate give higher amounts.

Conference

Conference8th International Research Conference of the European Research Network On Philanthropy (ERNOP)
CountryDenmark
CityCopenhagen
Period13/07/1714/07/17
Internet address

Keywords

  • crowdfunding
  • social information
  • donation behavior
  • natural field experiment

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  • Cite this

    van Teunenbroek, P. S. C., & Bekkers, R. H. F. P. (2017). Joining the Crowd: The Impact of Social Information in Crowdfunding Campaigns. Paper presented at 8th International Research Conference of the European Research Network On Philanthropy (ERNOP), Copenhagen, Denmark.