The basic idea of crowdfunding is to raise external finance from a large audience (the “crowd”), where each individual provides a very small amount, instead of soliciting a small group of sophisticated investors. The paper develops a model that associates crowdfunding with pre-ordering and...

This study investigates characteristics of individual crowdfunding practices and drivers of fundraising success, where entrepreneurs can tailor their crowdfunding initiatives better than on standardized platforms. Our data indicate that most of the funds provided are entitled to receive either...

Initially, voting rights were limited to wealthy elites providing political support for stock markets. The franchise expansion induces the median voter to provide political support for banking development as this new electorate has lower financial holdings and benefits less from the uncertainty...

Initially, voting rights were limited to wealthy elites providing political support for stock markets. The franchise expansion induces the median voter to provide political support for banking development as this new electorate has lower financial holdings and benefits less from the uncertainty...

Students of public policy have written a lot over the years about the rise of suburbia and development beyond older city boundaries in the United States, whether such development has been called urban, suburban, or ex-urban sprawl. Many writers have focused on various issues concerning sprawl,...

With the current Occupy Movement occurring on Wall Street and other parts of the globe, a lot of attention has recently been given to growing inequality and how much the top 1 percent of households have in terms of income versus the other 99 percent in the United States. Mainstream economists...