This paper studies pricing and observational learning in a reward-based crowdfunding campaign context. The creator sets a funding target and uses different pricing strategies in order to make the project successful: menu price and other static or dynamic price strategies, such as low price, high...

This study examines interdependencies between investments of equity crowdfunders. Based on hand-collected data from a well-established equitycrowdfunding platform, we find strong indication that investors observe previous investments to determine their willingness to pay for equity shares....