from crowd-funding platforms. After developing the theoretical background we find statistically significant switch points …

from crowd-funding platforms. After developing the theoretical background we find statistically significant switch points …

The present research investigates certification effects and rational herding in reward based crowdfunding (RBCF … and rational herding. Contributions from expert backers are perceived as positive quality signals by potential future …

Do equity crowdfunding investors rationally or irrationally herd? We build a model of rational information aggregation … compare the predictions of the model to several alternative models of irrational herding and no herding, and test those … predictions using data on all investments on a leading European equity crowdfunding platform. We show empirically that the size …

crowdfunding has received in the American Jobs Act as a potential avenue for economic growth, as well as the recent focus that … the widely held belief that a key benefit of the crowdfunding model is the potential it offers for awareness and attention …

literature on herding in financial markets, we conclude that herding in smart-beta is likely taking place, with a distinct and …

Most real world situations that are susceptible to herding are also characterized by direct payoff externalities. Yet …, the bulk of the theoretical and experimental literature on herding has focused on pure informational externalities. In … effects, first-mover advantage, etc.) in a standard information-based herding model. Our results are based on an internet …