Crowdfunding has mostly been used to finance very unique projects. Recently, however, companies have begun using it to … finance more traditional products where they compete against other sellers of similar products. Major crowdfunding platforms … where two competing firms can use crowdfunding prior to direct sales. The model provides several implications that have not …

platforms in 37 countries that explores whether lenders follow each other in the whole crowdfunding market, within the groups of … and highlight the controversial effects of signaling mechanisms on adverse selection in crowdfunding markets. …