are ultimately financed via crowdfunding? A simple model and simulation reveals the answers to both questions to be: "not …

Crowdfunding provides innovation in enabling entrepreneurs to contract with consumers before investment. Under … information threatens this benefit. Despite these threats, popular crowdfunding schemes are able to implement optimal screening … mechanisms. Crowdfunding's after-markets enable consumers to actively implement deferred payments and thereby optimally manage …

It is often assumed that entrepreneurs retain more control of their venture when they opt for equity crowdfunding as … by analysing the cash flow and control rights crowd investors receive in equity crowdfunding in Germany, where more … capital investment contracts are also used in equity crowdfunding contracts. We find that crowd investors are asked to pay …

crowdfunding ventures. This is done by applying standard economic theory and machine learning techniques from computer science to … analyzes transaction-level data in addition to information about completed crowdfunding projects. This provides an unique … crowdfunding campaign at any point throughout its duration. These ndings prove that a number of product and project specifi c …

Over the past years crowdfunding emerged as an alternative funding channel for entrepreneurs. In contrast to … traditional financiers (banks, venture capital firms or angel investors), crowdfunding allows individuals to fund entrepreneurs … directly even with small amounts. We received individual-level data from Startnext, the biggest crowdfunding platform in …

Crowdfunding challenges the traditional separation between finance and marketing. It creates economic value by reducing …. "All-or-nothing" reward-crowdfunding platforms reflect salient features of these mechanisms. Efficiency is sustainable only … underinvestment. With limited consumer reach, crowdfunders become actual investors. Crowdfunding complements rather than substitutes …