Publikasjonsdetaljer

År
2013
Forfattere
Agrawal, A.
Catalini, C.
Goldfarb, A.
Næring
Land
Canada
Type
Working Paper
Nøkkelord
Equity-based crowdfunding, Incentives, Welfare
Abstrakt / Utdrag

Authors provide a preliminary exploration of equity-based crowdfunding underlying economics. They highlight the extent to which economic theory, in particular transaction costs, reputation, and market design, can explain the rise of non-equity crowdfunding and offer a framework for speculating on how equity-based crowdfunding may unfold. They conclude by articulating open questions related to how crowdfunding may affect social welfare and the rate and direction of innovation.