Cooperative Decision Making in Crowdfunding - Applying Theory of Behavior and Exemplary Empirical Validation

摘要

Cooperative issues gained attention with fast growing digitization and social networks. Especially, research in advanced cooperative funding, i.e. crowdfunding, is rapidly increasing. Hence, this paper addresses behavioral issues in the highly complex decision-making processes from the viewpoint of various actors in crowdfunding. It provides a detailed overview of major behavioral models by focusing on (ⅰ) the theory or reasoned action, (ⅱ) its application and (ⅲ) its exemplary empirical validation. The empirical study examines the crowdfunding process by targeting 416 entrepreneurs and by analyzing their behavior towards Kickstarter.com and Indiegogo.com.