his article explores the impact of different types of products and rewards on the amount of funds raised in reward-based crowdfunding (RBCF). Specifically, we have analyzed two different product types, i.e., based on individual ownership or temporary use, and four types of rewards, i.e., prototype, branded promotional item, special edition, and discount. Results of a within-subject survey-based experiment indicate that individual ownership products obtain more funds than temporary use products. In addition, depending on the product type, some rewards are more effective in attracting funds from backers. These outcomes extend the application of Signaling Theory in the context of RBCF, as backers respond to multiple signals connected to both product and reward types because they are related to the likelihood of project realization, and of Self-Determination Theory, as backers are nonprofessionals and contribute their money mainly for the satisfaction of supporting what they consider valuable entrepreneurial projects. The findings of this article advance the scientific understanding of RBCF and provide advice for entrepreneurs on how to properly craft their call for money depending on the type of product proposed to the crowd.

The Impact of Product and Reward Types in Reward-Based Crowdfunding / Cappa, Francesco; Franco, Stefano; Ferrucci, Edoardo; Maiolini, Riccardo. - In: IEEE TRANSACTIONS ON ENGINEERING MANAGEMENT. - ISSN 0018-9391. - (In corso di stampa), pp. 1-12. [10.1109/TEM.2021.3058309]

The Impact of Product and Reward Types in Reward-Based Crowdfunding

Francesco Cappa
;
Stefano Franco;Edoardo Ferrucci;
In corso di stampa

Abstract

his article explores the impact of different types of products and rewards on the amount of funds raised in reward-based crowdfunding (RBCF). Specifically, we have analyzed two different product types, i.e., based on individual ownership or temporary use, and four types of rewards, i.e., prototype, branded promotional item, special edition, and discount. Results of a within-subject survey-based experiment indicate that individual ownership products obtain more funds than temporary use products. In addition, depending on the product type, some rewards are more effective in attracting funds from backers. These outcomes extend the application of Signaling Theory in the context of RBCF, as backers respond to multiple signals connected to both product and reward types because they are related to the likelihood of project realization, and of Self-Determination Theory, as backers are nonprofessionals and contribute their money mainly for the satisfaction of supporting what they consider valuable entrepreneurial projects. The findings of this article advance the scientific understanding of RBCF and provide advice for entrepreneurs on how to properly craft their call for money depending on the type of product proposed to the crowd.
Crowdfunding, funds raised, reward, Self-Determination theory, sharing economy, Signaling theory
The Impact of Product and Reward Types in Reward-Based Crowdfunding / Cappa, Francesco; Franco, Stefano; Ferrucci, Edoardo; Maiolini, Riccardo. - In: IEEE TRANSACTIONS ON ENGINEERING MANAGEMENT. - ISSN 0018-9391. - (In corso di stampa), pp. 1-12. [10.1109/TEM.2021.3058309]
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11385/204857
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