Please use this identifier to cite or link to this item: http://hdl.handle.net/10125/41687

Which Reward Should I Choose? Preliminary Evidence for the Middle-Option Bias in Reward-Based Crowdfunding

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Title: Which Reward Should I Choose? Preliminary Evidence for the Middle-Option Bias in Reward-Based Crowdfunding
Authors: Simons, Alexander
Weinmann, Markus
Tietz, Matthias
vom Brocke, Jan
Keywords: Crowdfunding
Dual-process theory
Middle-option bias
Rewards
Issue Date: 04 Jan 2017
Abstract: Crowdfunding has become an important research area, but we know little about how rewards influence fundraising success. This research-in-progress studies reward-based crowdfunding through a behavioral-economics lens. We draw on dual-process theory and provide preliminary evidence for the middle-option bias in crowdfunding. Two empirical studies in a simple, controlled environment confirm the significance of the middle-option bias, both for varying numbers of donation options and for varying price ranges. Since our findings suggest that the positioning of rewards in a menu of rewards can influence support behavior and how much money project creators collect, they can inform the design of crowdfunding projects. Our future research will develop a mock crowdfunding website to study the middle-option bias in a more realistic environment.
Pages/Duration: 10 pages
URI/DOI: http://hdl.handle.net/10125/41687
ISBN: 978-0-9981331-0-2
DOI: 10.24251/HICSS.2017.526
Rights: Attribution-NonCommercial-NoDerivatives 4.0 International
Appears in Collections:Crowd Science Minitrack



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