A field experiment on crowdfunding for a club good

Discussion Papers, Research Unit: Economics of Change from WZB Berlin Social Science Center

Abstract: While increasingly popular in many domains crowdfunding remains largely un-derresearched and little is known about the best way to encourage participation. In a field experiment we vary suggested amounts and test different wordings for a campaign to finance a club good - an institute's summer party with free food, drinks, and music. We find that higher suggestions shift the median and the mode of gifts from €5 to €10 at a similar response rate. We also find evidence in favor of a "donation" frame that generates higher income than a "contribution" frame.

Keywords: crowdfunding; field experiment (search for similar items in EconPapers)
JEL-codes: C93 D12 D64 (search for similar items in EconPapers)
Date: 2016
New Economics Papers: this item is included in nep-exp
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:zbw:wzbeoc:spii2016308

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