How Different are Crowdfunders? Examining Archetypes of Crowdfunders and Their Choice of Projects

51 Pages Posted: 20 Feb 2014

See all articles by Yan Lin

Yan Lin

Nanyang Technological University (NTU) - Nanyang Business School; Shenzhen University - Shenzhen Audencia Business School

Wai Fong Boh

Nanyang Technological University

Kim Huat Goh

Nanyang Technological University (NTU) - Nanyang Business School

Date Written: February 17, 2014

Abstract

While current research treats all crowdfunders on the same platform as a homogeneous group, we argue that such an assumption may limit our understanding of the complexities of the crowdfunder community. In this paper, we begin to unpack the complexities of the crowdfunder community by identifying different archetypes of crowdfunders funding technology projects on Kickstarter, we identified four distinct types of crowdfunders: Active Backers, Trend Followers, the Altruistic, and the Crowd. Our results show that crowdfunders on the same platform are highly heterogeneous, with different motivations that are reflected in their strategies and behaviors. We further hypothesized and tested how the strategies and motivations of different crowdfunder archetypes further influence their choices of when and which projects to fund. In so doing, we not only reconcile conflicting results from the literature, but also synthesize differing theoretical perspectives that have been applied to understand the crowdfunding phenomenon.

Keywords: Crowdfunding, Social Influence, Signaling, Cluster Analysis, Choice Model

Suggested Citation

Lin, Yan and Boh, Wai Fong and Goh, Kim Huat, How Different are Crowdfunders? Examining Archetypes of Crowdfunders and Their Choice of Projects (February 17, 2014). Available at SSRN: https://ssrn.com/abstract=2397571 or http://dx.doi.org/10.2139/ssrn.2397571

Yan Lin (Contact Author)

Nanyang Technological University (NTU) - Nanyang Business School ( email )

Singapore, 639798
Singapore

Shenzhen University - Shenzhen Audencia Business School ( email )

Shenzhen
China

Wai Fong Boh

Nanyang Technological University ( email )

S3 B2A-14 Nanyang Avenue
Singapore, 639798
Singapore

Kim Huat Goh

Nanyang Technological University (NTU) - Nanyang Business School ( email )

Singapore, 639798
Singapore

Register to save articles to
your library

Register

Paper statistics

Downloads
756
Abstract Views
1,928
rank
50,228
PlumX Metrics