On remote and on-site participative funding mechanisms: using the example of reward-based crowdfunding and pay-what-your-want


Rottler, Maren



Document Type: Doctoral dissertation
Year of publication: 2021
Place of publication: Mannheim
University: Universität Mannheim
Evaluator: Helmig, Bernd
Date of oral examination: 17 May 2021
Publication language: English
Institution: Business School > ABWL, Public & Non Profit Management (Helmig)
Subject: 330 Economics
Keywords (English): participative funding , reward-based crowdfunding , pay-what-you-want , crowdfunding performance , socioanalytic theory , perceived personality , pricing strategy , reference price , mechanism-based research synthesis , videometrics , field experiment
Abstract: The advancements of communication and information technologies drive innovation of financing instruments across the sectors. Financial alternatives, such as participative funding, emerge, which combine internal and external financing sources and reinterpret conventional funding mechanisms and customer roles. However, insights are missing on how and why such participative funding instruments are successful. To close this research gap Maren Rottler investigates in her dissertation success factors and mechanisms of reward-based crowdfunding and pay-what-you-want funding (PWYW). In study 1 a theoretical framework is developed on how and why reward-based crowdfunding is successful by applying mechanism-based theorizing and explanatory literature synthesis. The study advocates an advancement and theory development of a distinct reward-based crowdfunding research field. Study 2 focuses on individual decision-making in reward-based crowdfunding and identifies effects of perceived personality on funding success. Evoking insights from socioanalytic theory, using crawled data from 673 reward-based crowdfunding campaigns and applying videometrics, findings reveal that perceptions of a seller’s personality serve as inferences about which seller is better at “getting ahead” of competition and at “getting along” with the members of the community. Such effects may be more impactful than social identity information of race or gender, detecting so far overlooked social barriers within participative resource acquisition. Study 3, an on-site field experiment, analyses the success mechanisms of different pricing strategies in the participative funding instrument PWYW. Drawing on prospect theory, the experiment reveals that PWYW triggers economic considerations of loss aversion and gain and that the internal reference price guides payment decisions. The study adds to the general discussion about the economic outcome of participative funding instruments and the funding mechanisms’ boundary conditions. Concluding, this thesis contributes to the understanding of participative funding instruments and their underlying mechanisms at individual and collective level in remote and on-site contexts.

Dieser Eintrag ist Teil der Universitätsbibliographie.




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